New York -- Toy giant Mattel Inc. on Friday reported stronger second-quarter financials with assists from entertainment companies Walt Disney and World Wrestling Entertainment.
In reporting the toy maker's latest quarterly results, Mattel chairman and CEO Robert Eckert highlighted a "stellar" contribution from the toy line for "Toy Story 3." Overall, Mattel's entertainment business saw revenue rise 60% thanks to brisk sales of "Toy Story 3" and WWE merchandise, as well as core games. The 60% gain compared to an overall revenue increase of 13% across the company. Mattel became WWE's exclusive toy licensee as of this year.
While Mattel's second-quarter profit of fell slightly short of Wall Street expectations due to a strengthening dollar, it hit $51.6 million, more than double the $21.5 million in the year-ago period. Revenue rose 13% over the year-ago period to $1.02 billion, in line with expectations.
Worldwide gross sales for Mattel's core Barbie brand were up 6%, while other girls brands...
In reporting the toy maker's latest quarterly results, Mattel chairman and CEO Robert Eckert highlighted a "stellar" contribution from the toy line for "Toy Story 3." Overall, Mattel's entertainment business saw revenue rise 60% thanks to brisk sales of "Toy Story 3" and WWE merchandise, as well as core games. The 60% gain compared to an overall revenue increase of 13% across the company. Mattel became WWE's exclusive toy licensee as of this year.
While Mattel's second-quarter profit of fell slightly short of Wall Street expectations due to a strengthening dollar, it hit $51.6 million, more than double the $21.5 million in the year-ago period. Revenue rose 13% over the year-ago period to $1.02 billion, in line with expectations.
Worldwide gross sales for Mattel's core Barbie brand were up 6%, while other girls brands...
- 7/16/2010
- by By Georg Szalai
- The Hollywood Reporter - Movie News
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