Why Mattel Stock Popped on Friday
Shares of Mattel (NASDAQ: MAT) jumped more than 13% on July 26, following the release of the children's entertainment company's second-quarter results.
Mattel's net sales rose 2% year over year, to $860.1 million, and 5% when excluding the impact of foreign-currency movements. It was the first time the company grew its revenue in two years. Mattel's revenue also came in well above Wall Street's estimates of $813 million.
Strong sales of the company's key Barbie franchise contributed to the gains. Barbie gross sales jumped 9% on a reported basis and 13% in constant currency.
Quelle Fool.com
