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Why Mattel Shares Jumped 12% Today

TheMotleyFool

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Shares of Mattel (NASDAQ: MAT) got a boost today after reporting earnings late yesterday and are up more than 12% as of 1 p.m. EDT. The toymaker saw a jump in sales as well as profitability in its third quarter.

Investors had been selling shares of the company for years as it struggled to turn its business around. But the maker of Barbie dolls and Fisher-Price toys reported a 10% rise in sales versus the year-ago quarter and an improvement in gross margin as well this quarter.

Image source: Getty Images.

Source Fool.com

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