Barbie Movie Boosted Mattel’s Sales, But Investors Held Their Applause

Mattel easily beat expectations for sales and earnings in the third quarter, and raised its earnings guidance for the full year, but the boost it got from the Barbie movie wasn’t enough to lift its stock price. Shares fell by more than 7% in after hours trading immediately following the earnings release.

The toymaker reported net sales of $1.92 million, up 7% in constant currency. Net sales rose 9% unadjusted for currency exchange. It reported adjusted earnings of $1.08 per share, beating consensus expectations for 86 cents per share. Mattel raised its earnings forecast for the year to between $1.15 and $1.25, up from the previous guidance of $1.10 to $1.20.