Mattel Inc posted a higher-than-expected quarterly profit on Friday as the world's top toy company cut costs to make up for a dearth in products based on summer movies and the impact of foreign exchange.
Net profit for the owner of Hot Wheels and Barbie rose to $21.5 million, or 6 cents per share, in the second quarter from $11.8 million, or 3 cents per share, a year earlier.
Analysts on average expected 1 cent per share, according to Reuters Estimates.
Sales fell 19 percent to $898.2 million, Mattel said.
(Reporting by Aarthi Sivaraman; Editing by Lisa Von Ahn)