'Toy Story 3' product boosts Mattel earnings
Entertainment unit revenue up 23% in Q3.
NEW YORK - Woody and Buzz Lightyear helped inject some good news into toy giant Mattel's third-quarter earnings report Friday.
The company said its quarterly profit rose 23% helped by growth at its entertainment segment, which was powered by "Toy Story 3" merchandise and also World Wrestling Entertainment toys. The largest U.S. toy firm said revenue at its entertainment segment jumped 23%, outperforming company-wide revenue growth of 2%.
In other key businesses, Barbie revenue increased 6%, while Hot Wheels declined 3%.
Mattel's quarterly profit of $283.3 million came on revenue of $1.83 billion.