Mattel reports 16 percent net income increase

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Barbie, the No. 1 doll brand, helped lift Mattel’s third-quarter results. The largest U.S. toy maker reported that its net income rose 16 percent.

Its performance beat Wall Street expectations. The stock rose 1 percent Wednesday.

For the three months ended Sept. 30, Mattel earned $422.8 million, or $1.21 per share. That’s up from $365.9 million, or $1.04 per share, in the prior-year period. Removing a tax benefit of 5 cents per share, earnings were $1.16 per share. Analysts predicted earnings of $1.11 per share. Revenue rose 6 percent to $2.21 billion from $2.08 billion.

THE STOCK

Mattel Inc. (MAT)

Wednesday’s close: $41.97 ▲ $0.42, or 1.01%

52-week range $35-48

Annual dividend $1.44

Dividend yield 3.4%

Price-earnings ratio * 17

Total return YTD 18%

3-year ** 29%

10-year ** 12%

Note: Total returns through Wednesday

* Trailing 12 months; ** Annualized

Source: FactSet, Associated Press


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