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Mattel Swings to Profit, Beats Street View

Mattel posted first-quarter earnings that beat Wall Street expectations.
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NEW YORK (TheStreet) -- Mattel (MAT) - Get Mattel, Inc. Report posted first-quarter profit that beat Wall Street expectations.

For the first quarter, Mattel posted net income of $24.8 million, or 7 cents a share, compared with a loss of $51 million, or 14 cents a share, the year before.

The company reported net sales of $880.1 million, up 12% from a year earlier. During the period, sales for the Mattel Girls & Boys Brands were up 14% vs. a year ago. Domestic gross sales were up 12% and international gross sales up 12%.

Mattel's first-quarter earnings easily beat Wall Street's expectation of a loss of 3 cents a share on revenue of $859.87 million.

-- Reported by Andrea Tse in New York

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