Mattel soars after toy demand helps earnings smash estimates

Mattel Inc. rose as much as 11% in early trading Friday after third-quarter results shattered expectations, lifted by consumers snapping up Barbie dolls and Hot Wheels toys during the pandemic. Revenue rose 10% to $1.63 billion in the period, Mattel said on Thursday, topping analysts’ predictions of $1.46 billion. Adjusted profit was 95 cents a share, beating estimates of 39 cents, as the company continued to work on...