Mattel shares rise as Barbie, American Girl sales jump
Mattel Inc. shares rose in the extended session Wednesday after the toy maker topped Wall Street revenue estimates on growth in Barbie and American Girl sales, but fell short of earnings targets. Mattel shares rose 4.5% to $32 after hours. The company reported adjusted third-quarter earnings of 70 cents a share on revenue of $1.8 billion. Analysts surveyed by FactSet had forecast earnings of 71 cents a share on revenue of $1.78 billion. Mattel said worldwide sales of Barbie toys rose 17% from a year ago in constant currency, while American Girl doll sales grew 15%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.