Mattel's Barbie Boosts Q3 Results, But Shares Slide

Mattel's Q3 revenue rose 9% to $1.9 billion, beating Wall Street expectations, thanks to the successful release of Barbie. Earnings per share came in at $1.08, surpassing analysts' estimates of 86 cents. However, Mattel shares slid 7% in after-hours trading due to a 13% decline in billings at the American Girl unit. Despite this, Mattel raised its full-year earnings guidance and attributed the strong performance to Barbie's success, including the release of the Barbie movie, which contributed to increased gross margins.