UPDATE: Mattel Q3 Net Profit Surges 16%

Mattel

reported a 16% gain in its third-quarter net income. Mattel's quarterly net income surged to $442.8 million, or $1.21 per share, from $365.9 million, or $1.04 per share, in the year-earlier period. Its sales rose 6% to $2.21 billion. However, analysts were estimating earnings of $1.12 per share on revenue of $2.17 billion. Mattel shares closed at $41.55 yesterday.