Mattel Beats Wall Street's Earnings Estimate As Sales Snap Losing Streak

Shares of Mattel Inc. surged in Monday's extended trade after the toy maker posted higher sales, snapping an eight-quarter losing streak. Mattel reported its fourth-quarter earnings rose to $215.2 million, or 63 cents a share, from $149.9 million, or 44 cents a share, in the same quarter last year. Excluding items, the company famous for its iconic Barbie dolls would have earned 67 cents a share. Revenue grew to $2 billion from $1.99 billion a year ago. Analysts surveyed by FactSet had forecast earnings of 61 cents on $1.91 billion in revenue. Mattel shares jumped 6.5% in after-hours session.