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UPDATE: Mattel Posts Higher Q1 Earnings

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Mattel (NASDAQ: MAT) reported a rise in its first-quarter earnings.

Mattel's quarterly profit surged to $38.5 million, or $0.11 per share, from $7.8 million, or $0.02 per share, in the year-ago period.

Its net sales rose 7.2% to $995.6 million. However, analysts were expecting earnings of $0.09 per share on revenue of $986 million.

Its gross margin widened to 54.2% from 51%.

Mattel's North American gross sales rose 5%, while international gross sales gained 9%.

Mattel shares closed at $42.98 yesterday.

Posted-In: profitEarnings News

 

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