NEW YORK — Dolls are conquering the world.
Strength of doll brands like Barbie and Monster High around the world helped Mattel’s net income rise 16 percent in the third quarter, a positive sign ahead of the holiday season.
Its performance beat Wall Street expectations.
Toy sales overall have been weak in North America, Europe and Australia, due to a weak video game market, an uncertain economy and continued popularity of electronic gadgets like smartphones and tablets. But Mattel, the largest U.S. toy maker, has fared better than its competitors.
Barbie, the No. 1 doll brand, reversed four straight quarters of sales decline to increase 3 percent during the quarter. Dolls in general continued to be a strong category. Sales of Monster High and American Girl dolls also rose.
For the three months ended Sept. 30, Mattel earned $422.8million, or $1.21 per share. That’s up from $365.9million, or $1.04 per share, in the prior-year period.
Removing a tax benefit of 5 cents per share, earnings were $1.16 per share. Analysts predicted earnings of $1.11 per share.
Revenue for the El Segundo, Calif., company rose 6 percent to $2.21 billion from $2.08 billion. Wall Street expected $2.175 billion in revenue. — AP
SAN JOSE, Calif. — eBay says its third-quarter profit grew 15 percent as revenue rose, thanks to increasing mobile transactions in its online marketplaces eBay and StubHub and growth in the number of people using its PayPal payments processor.
In the quarter through September, eBay’s net income grew to $689 million, or 53 cents per share, from $597 million, or 45 cents per share, a year ago.
Excluding special items, adjusted earnings came to 64 cents per share, a penny better than expected by analysts polled by FactSet.
Revenue rose 14 percent to $3.89 billion, slightly below the $3.91 billion analysts were looking for. — AP
NEW YORK — PepsiCo Inc. reported a slightly higher profit for its third quarter that came in above Wall Street expectations, but revenue fell shy of analysts’ estimates.
Sales volume for its Americas food division, which includes Frito-Lay and Quaker Oats, rose even as the company hiked prices. But its closely watched beverage unit for the region saw a 4 percent volume decline.
Activist investor Nelson Peltz is pushing PepsiCo to spin off its beverage business and merge its remaining food business with Mondelez International. PepsiCo says it plans to move forward as a combined food and drink company.
PepsiCo earned $1.91 billion, or $1.23 per share, for the three months ending Sept. 7. That compares with $1.9 billion, or $1.21 per share, a year ago when there were more shares outstanding.
Not including one-time items, the company said it earned $1.24 per share, above the $1.17 per share analysts expected.
Revenue rose 2 percent to $16.91 billion, less than the $17.02 billion Wall Street expected. — AP
American Express Co., the biggest credit-card issuer by purchases, posted a third-quarter profit that beat analysts’ estimates as customer spending climbed.
Net income increased 9.3 percent to $1.37 billion, or $1.25 a share, from $1.25 billion, or $1.09, in the same period a year earlier, the New York-based lender said. That beat the $1.22 average estimate of 26 analysts surveyed by Bloomberg. — Bloomberg News
NEW YORK — IBM says its third-quarter net income rose 6 percent, as better profitability offset lower revenue.
The Armonk, N.Y., computing company earned $4.04 billion, or $3.68 per share, up from $3.82billion, or $3.33 per share, in the same quarter last year. Excluding one-time charges, it earned $3.99 per share.
Revenue fell 4 percent to $23.7billion from $24.7 billion.
The profit beat Wall Street predictions, while the revenue fell short. Analysts polled by FactSet expected a profit of $3.96 per share on $24.8 billion in revenue. Its stock fell 6 percent in extended trading.
International Business Machines Corp. says it still expects to post an adjusted 2013 profit of at least $16.90 per share. Analysts expect earnings of $16.87 per share.