“Consumer demand for our product increased in the quarter, and we continued to outpace the industry,” Mattel CEO Ynon Kreiz said in a press release.

He added: “Our results benefited from the success of the Barbie movie, which became a global cultural phenomenon, and marked a key milestone for Mattel.”

In a call with analysts Kreiz said ticket sales, the movie toy line and consumer product partnerships contributed to the company’s performance.

The film has grossed more than US$1.44 billion worldwide since it was released in theaters in July.

The group posted US$1.92 billion in sales from July to September, which was higher than the US$1.84 billion forecast by FactSet analysts.

It posted a net income of US$146,3 million, half the figure for the same period last year, due to a one-time charge of US$212 million linked to taxes on foreign assets, the company said. However, its adjusted per-share profit of US$1.08 beat analysts’ estimate of 86 cents.

“Given our year-to-date performance and expectations for a strong holiday season, we are updating our guidance for 2023 to reflect anticipated upside to our margin and bottom-line results,” Chief Financial Officer Anthony DiSilvestro said in a statement.

The company now expects annual adjusted earnings per share between US$1.15 and US$1.25, compared with US$1.10 to US$1.20 estimated previously.

Operating profit is expected between US$925 and US$975 million, compared to US$900-950 million in previous forecasts.

Mattel shares fell 7% in extended trade.