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Mattel Shares Jump As Barbie Boosts Profit

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Key Points

  • Mattel shares jumped on Thursday after the toymaker reported that its quarterly profit more than tripled with help from its iconic Barbie dolls.
  • Sales were up 10 percent in the quarter that ended September 30, while Barbie gross sales leaped 29 percent, the California-based company said in an earnings release.
  • Mattel shares were up nearly eight percent in after-market trades that followed the release of the earnings report.
  • Visit The Financial Today’s homepage for more stories.

SAN FRANCISCO — Mattel shares jumped on Thursday after the toymaker reported that its quarterly profit more than tripled with help from its iconic Barbie dolls.

Sales were up 10 percent in the quarter that ended September 30, while Barbie gross sales leaped 29 percent, the California-based company said in an earnings release.

Net income was $316 million, some 348 percent higher than the same period last year, according to Mattel.

“This was a very strong quarter for Mattel,” said chief executive Ynon Kreiz.

“We saw a major upswing in topline and a significant increase in profitability as we continued to make meaningful progress towards becoming an (intellectual property)-driven, high-performing toy company.”

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