She’s less than a foot tall but worth over a billion dollars at the box office alone. For Mattel (MAT), the “Barbie Boost” is off and running.
After its July release, the Greta Gerwig-directed Barbie film quickly rocketed to the highest-grossing film of the year. It’s earned over $1.4 billion worldwide (so far), putting it among the top 20 highest-grossing movies of all time alongside superhero epics like The Avengers and timeless classics like Titanic.
Mattel’s vintage 1959 toy is now Hollywood royalty.
The result: Barbie sales jumped 16% in the third quarter, while overall revenue for the toymaker rose 9% to $1.92 billion.
This performance exceeded Wall Street’s expectations, with earnings per share at $1.08 (adjusted), compared to the expected 86 cents.
Our consumer insights machine saw this jump in consumer demand coming from a mile away. Just check out the Barbie brand buzz chart below, which captured a 734% year-over-year surge:
Last week’s earnings weren’t enough to impress analysts, though.
CEO Ynon Kreiz noted a year-to-date decline in overall toy industry sales. This observation, coupled with Mattel’s cautious stance towards the upcoming holiday season and broader industry challenges, led to a 16% decline in MAT shares between the market close on Wednesday and the opening bell on Thursday.
Analysts highlighted this “near-term cautiousness” and broader industry weakness as key factors affecting investor sentiment.
The $2 AI stock we’re targeting right now is due to report earnings this week. And with our x-ray view into this company’s web data, we can tell you average daily web visits to its core platform have surged above one million.
