Mattel’s second quarter earnings showed a rise by as much as 5.6% in late trading, beating analysts’ predictions.
Analysts had estimated a 4% loss but profit actually amounted to around one cent a share in the period. Revenue was $988.2 million, compared with a $991.9 million estimate.
Fisher-Price is clearly a standout brand for the company at the moment – with sales rising 9% and totaling a third of the company’s overall sales. In the same period last year there was a 17% decrease in Fisher-Price sales.
In a statement, Mattel’ CEO Christopher Sinclair commented: “We are encouraged by improved performance across our core brands, as well as strong momentum in emerging markets like China and Russia. Although we are still early in our turnaround effort, I believe we are taking all the right steps to be more competitive in the growing global toy industry.”