Mattel First-Quarter Sales Beat Estimates on Hot Wheels Demand

Mattel Inc. reported higher-than-expected revenue in the first quarter thanks to demand for Hot Wheels miniature cars and building sets, which helped offset lower demand for Barbie dolls and Fisher-Price preschool toys.

El Segundo, California-based Mattel’s sales were $862 million in the period, the company said in a statement Wednesday, more than the $805.8 million average of analysts’ estimates, according to data compiled by Bloomberg. The net loss, excluding some items, was 20 cents per share, roughly in line with Wall Street’s projections.