: Mattel’s stock drops 6% after toy maker posts mixed quarter despite Barbie ‘phenomenon’

Shares of Mattel Inc. MAT fell 6% in the extended session Wednesday after the toy maker posted mixed quarterly earnings despite its wildly successful Barbie movie. Mattel earned $146 million, or 41 cents a share, in the quarter, compared with $290 million, or 80 cents a share, in the year-ago period. Adjusted for one-time items, Mattel earned 82 cents a share. Analysts polled by FactSet had expected adjusted earnings of 86 cents a share. Sales rose 9% to $1.92 billion, the company said. The analysts surveyed by FactSet expected sales of $1.84 billion. “Our results benefited from the success of the Barbie movie, which became a global cultural phenomenon, and marked a key milestone for Mattel,” Chief Executive Ynon Kreiz said in a statement.

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