Mattel, Inc. reported better-than-expected financial results, and revealed an investigation into its accounting practices.
The toy maker’s earnings per share came in at 26 cents, exceeding analysts’ estimates of 19 cents.
Sales increased +3% year-over-year to $1.48 billion. Analysts were expecting a decline of -0.5%. The company’s Barbie brand and BTS dolls based on a Korean boy band were major drivers of sales.
The company also released a separate statement, in which it mentioned that an independent audit into the company found it had misstated financial statements in the last two quarters of 2017, but that there was no impact on the financial results of that year.