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Stock Alert: Mattel Gains On Upbeat Q3 Results

Shares of toy maker Mattel, Inc. (MAT) are up more than 8% Friday morning following upbeat third-quarter results.

The stock is currently trading at $14.05, close to its 52-week high of $14.83.

Mattel reported earnings, on an adjusted basis of $0.69 per share compared with $0.26 per share last year. On average, 13 analysts polled by Thomson Reuters expected earnings of $0.38 per share.

Quarterly sales were $1.632 billion, up 10% year-over-year. The consensus estimate stood at $1.46 billion.

"Mattel's growth outpaced the industry as we gained share in key markets around the world and achieved growth in each of our four regions," commented Ynon Kreiz, Chairman and CEO of Mattel.

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