EL SEGUNDO, Calif. (AP) — Mattel Inc.'s second-quarter net income climbed 20 percent as sales of Hot Wheels, Barbie and Monster High products increased. The results beat Wall Street estimates.
The biggest U.S. toy maker reported Tuesday that its net income rose to $96.2 million, or 28 cents per share, in the April to June quarter. That compares with $80.5 million, or 23 cents per share, a year ago.
The performance beat the 20 cents per share analysts expected.
Revenue held at $1.16 billion, but topped Wall Street's estimate of $1.13 billion.
Sales of Hot Wheels climbed 11 percent, while Barbie sales rose 5 percent. Fisher Price sales increased 2 percent and American Girl sales gained 3 percent.
Mattel, which is based in El Segundo, Calif., also declared a third-quarter dividend of 31 cents per share.
