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

By Sue ChangMarketWatch Pulse

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.

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