Mattel Sees Q3 Revenue Boost

Boosted by the global success of the Barbie theatrical, Mattel saw its third-quarter revenues rise by 9 percent to $1.9 billion.

“Mattel’s strong third-quarter performance reflects the successful execution of our strategy to grow Mattel’s IP-driven toy business and expand our entertainment offering,” said Ynon Kreiz, chairman and CEO. “Consumer demand for our product increased in the quarter, and we continued to outpace the industry. Our results benefited from the success of the Barbie movie, which became a global cultural phenomenon, and marked a key milestone for Mattel.”

The company saw gains in its dolls business, including Barbie, Disney Princess and Disney Frozen and vehicles (namely Hot Wheels) but did report declines in action figures, building sets, games and preschool.

Net profit at the company declined from $289.9 million to $146.3 million.