Mattel profit beats estimates

MATTEL Inc, the world's largest toymaker, reported second-quarter profit that fell less than analysts estimated after international sales increased and kids bought Batman action figures.

Net income declined 48 per cent to US$11.8 million, or 3 cents a share, from US$22.8 million, or 6 cents, a year earlier, beating analysts' projections by 1 cent. Revenue increased 11 per cent to US$1.11 billion from US$1 billion, the maker of Barbie dolls and Hot Wheels said yesterday in a statement. - Bloomberg