Ynon Kreiz Photo by Drew Angerer/Getty Images Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Barbie and Hot Wheels toy maker Mattel has posted lower fourth quarter earnings, even as it recorded higher overall revenues. For the fourth quarter, Mattel reported net income of $106 million, or 35 cents per share, compared to a year-earlier $141 million in net income, and 42 cents per share. Analysts had forecast 55 cents per-share in earnings for Mattel during the latest financial quarter. The latest quarterly revenues came to $1.76 billion, which were up 7 percent on a year-earlier $1.64 billion in revenues. But Mattel during the latest quarter missed Wall Street expectations of $1.83 billion in overall sales. Shares in Mattel tumbled $5.46, or 26 percent, to $15.60 in after hours trading on the NASDAQ Exchange. Related Stories Movies John Cena Is on the Run as Undercover CIA Agent in Mattel-Inspired 'Matchbox' Movie From Apple TV TV Mattel Plans "Bold" New Thomas the Tank Engine in Franchise Relaunch Ynon Kreiz, chairman and CEO of Mattel, in a statement that accompanied his latest financial results pointed to topline growth in the fourth quarter. But he added "December gross billings in the U.S. ended up growing less than expected" during a key Christmas retail season. That underlined how Mattel and other toy makers face consumer spending headwinds and tariff and global trade disruption. Kreiz on an after-market analyst call said "2025 was marked by uncertainty in our trade dynamics that affected retailer ordering patterns for much of the year." He added retailers, after delaying buying amid Donald Trump's tariffs war with China and other international markets, put in increased orders in the fourth quarter ahead of the holiday season. "December, however, ended up growing less than anticipated in the U.S., and our full year results finished below expectations," he added. During the fourth quarter, the toy maker said worldwide gross billings for dolls, infant, toddler and preschool products were down. That was offset by higher worldwide gross billings for vehicles, driven by Hot Wheels sales growth, and action figures, building sets and other toy lines. On Tuesday, Mattel also announced it had reached an agreement to acquire full ownership of Mattel163 mobile games studio, subject to closing conditions. Kriez pointed to a $159 million price tag for a 50 percent interest, to value Mattel163 at $380 million. The Mattel chief said the acquisition was part of a strategy to move beyond physical products, which were still core to the company, to drive into digital markets. "We see content licensing and digital games as key high margin growth drivers. And the acquisition of Mattel163 is an important building block of the strategy," he told analysts. The fourth quarter results offer a window on a continuing pivot by Mattel to the entertainment space, a move being watched closely by investors after the 2023 box office success of its Barbie movie release. The toy maker has a deal with Disney to supply Toy Story 5 action figures and other product around a tentpole release later this year, and also has a KPop Demon Hunters doll line based on the Netflix franchise. Another deal has Mattel in a partnership with Warner Bros. Discovery to release DC-themed action figures and other product lines. And as it cashes in on its own toy brands, Amazon MGM Studios and Mattel Studios have Masters of the Universe coming out June 5, 2026 and Matchbox The Movie, an Apple original film from Skydance Media and Mattel Films is set for a global debut on Oct. 9, 2026. Kreiz added in a statement about his company's expected performance during 2026: "We expect growth to be led by innovation in toys, major partnerships with leading IP owners, and an inflection inentertainment, with two movie releases and an expansion of digital games, amplified by the fullacquisition of Mattel163 mobile games studio." THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up Peter Friedlander Peter Friedlander, Katherine Pope Among Six Joining Peabody Awards Board Heat Vision Cowabunga! Paramount Going All In on 'Teenage Mutant Ninja Turtles' With YouTube Show, Mattel Line - and Even Restaurants Theater Netflix Is Filming 'Stranger Things' on Broadway for Streaming Release Podcasts Red Seat Ventures Expands Podcasting Business With Acquisition THR Original Video If Hollywood Wants an Ethical Future With AI, "We Need to Build a System for Ongoing Compensation," Says Joseph Gordon-Levitt THR Original Video "Everyone Is Overworked and Afraid of Losing Their Job": Autodesk VP on the Future of AI Peter Friedlander Peter Friedlander, Katherine Pope Among Six Joining Peabody Awards Board Heat Vision Cowabunga! Paramount Going All In on 'Teenage Mutant Ninja Tur