Mattel beats Wall Street on strong demand
Mattel Inc, the maker of Barbie dolls and Hot Wheels cars, posted quarterly results that breezed past market estimates, helped by strong demand across its brands.
Fourth-quarter net profit was $325.2 million, or 89 cents a share, compared with $328.4 million, or 89 cents a share, a year ago.
Analysts on an average had expected a profit of 86 cents a share, according to Thomson Reuters I/B/E/S.
Mattel, which counts billionaire investor Carl Icahn among its investors, said sales rose 9 percent to $2.12 billion, beating analysts' estimates of $2.09 billion.
Shares of El Segundo, California-based Mattel closed at $24.15 on Tuesday on Nasdaq.
(Reporting by Dhanya Skariachan in New York and NR Sethuraman in Bangalore; Editing by Unnikrishnan Nair)
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