Mattel results beat Street estimates on higher prices

Reuters

Mattel Inc , the world's largest toymaker, reported better-than-expected quarterly results, boosted by price increases and cost cuts.

The company, home to brands such as Barbie, Hot Wheels and Fisher-Price, said third-quarter net income rose to $365.9 million, or $1.04 a share, from $300.8 million, or 86 cents a share, a year earlier.

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Analysts on average expected a profit of 99 cents a share before one-time items, according to Thomson Reuters I/B/E/S.

Sales rose 4 percent to $2.08 billion, marginally above analysts' expectations of $2.07 billion.

(Reporting By Dhanya Skariachan and Siddharth Cavale in Bangalore; Editing by Sreejiraj Eluvangal)