Mattel says Barbie sales grew 16% as blockbuster movie became a phenomenon

Mattel reported earnings and revenue that came in higher than Wall Street's expectations.

on Wednesday said Barbie sales jumped 16% in the third quarter, riding the wave of the blockbuster movie. The film, released in July, is largely responsible for the bump, Mattel said. It is the"Our results benefited from the success of the Barbie movie, which became a global cultural phenomenon, and marked a key milestone for Mattel," CEO Ynon Kreiz said in the toy maker's

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:For the period ended Sept. 30, Mattel reported a profit of $146.3 million, or 41 cents a share, down from $289.9 million, or 80 cents a share, a year earlier. Adjusted for one-time items, per-share profit was $1.08.Despite the positive report, shares of Mattel fell about 6% in after-hours trading wednesday.

The company said during its earnings call Wednesday that it expects strong profit growth during the holiday quarter, despite a volatile retail environment.

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