Barbie sales surged by 16% due to the movie's massive popularity.

• Wall Street's expectations were surpassed by the earnings and revenue reported by Mattel.
• During the third quarter, the blockbuster movie contributed to a 16% increase in Barbie sales.
• The company expects a strong holiday season and has increased its full-year profit outlook.

Call it a Barbie boost.

In the third quarter, Barbie sales increased by 16%, thanks to the success of the blockbuster movie. The "Barbie" film, which was released in July, contributed significantly to the increase. It has become the highest-grossing film of the year, earning over $1.4 billion worldwide.

The success of the Barbie movie, which became a global cultural phenomenon, marked a key milestone for Mattel and helped our results, CEO Ynon Kreiz stated in the toy maker's third-quarter earnings release.

According to a survey of analysts by LSEG, formerly known as Refinitiv, the company's reported results differed from Wall Street's expectations.

• Earnings per share: $1.08, adjusted vs. 86 cents, expected
• Revenue: $1.92 billion vs. $1.84 billion, expected

Mattel's profit for the period ending Sept. 30 was $146.3 million, or 41 cents a share, which is a decrease from the previous year's profit of $289.9 million, or 80 cents a share. However, when adjusted for one-time items, the per-share profit was $1.08.

Revenue rose 9% to $1.92 billion.

Although the report was positive, Mattel's shares dropped about 6% in after-hours trading on Wednesday. Despite this, shares had risen over 12% year-to-date by Wednesday's close.

Mattel's first step towards a broader strategy of leveraging its intellectual property for blockbuster movies is marked by "Barbie."

Hot Wheels sales increased by 22% compared to the previous three-month period, and this growth can be attributed to the success of the car makeover competition series "Hot Wheels: Ultimate Challenge" on NBC. Additionally, Mattel announced that a Hot Wheels film is in the works with the studio behind "Barbie."

The toy maker increased its full-year adjusted earnings per share outlook to a range of $1.15 to $1.25, from $1.10 to $1.20, and also raised its gross margin guidance to 48% from 47%.