The company, which recently gave its 50-year-old iconic product Barbie a facelift, also benefited from tighter cost controls and a weak U.S. dollar.
Fourth-quarter net income rose to $328.4 million, or 89 cents a share, from $176.4 million, or 49 cents a share, a year earlier.
Excluding a tax benefit, the profit was 81 cents a share, beating the analysts' average forecast of 68 cents, according to Thomson Reuters I/B/E/S.
Net sales rose 1 percent to $1.96 billion, including a benefit of 4 percentage points from changes in currency exchange rates. Analysts had expected sales of $1.98 billion.
El Segundo, California-based Mattel saw gross sales fall 2 percent in its domestic markets and rise 3 percent internationally. It is expanding its presence in emerging markets like China and India to offset weakness at its home turf.
The company, whose rivals include Hasbro
(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)