UPDATE: Mattel Posts Upbeat Q2 Profit

Mattel

reported a better-than-expected second-quarter profit. Mattel's quarterly net income surged to $96.2 million, or $0.28 per share, versus $80.5 million, or $0.23 per share, in the year-ago period. However, analysts were expecting a profit of $0.21 per share. Its sales came in flat at $1.16 billion, versus analysts' estimates of $1.13 billion. Mattel shares closed at $31.04 yesterday.