Barbie-maker Mattel posted third-quarter results after the market close on Tuesday that missed analysts’ expectations as ongoing global tariffs continue to hamper the toy manufacturer’s sales in North America.

Shares of the company fell 4% in after hours trading.

Here’s what Mattel reported for its third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earnings per share: 89 cents adjusted vs. $1.07 expected
• Revenue: $1.74 billion vs. $1.83 billion expected

For the quarter ended September 30, the company reported net income of $278 million, or 88 cents per share, down from $372 million, or $1.09 per share, a year earlier. Adjusting for one-time items, including costs associated with restructuring and certain product recalls, per-share profit was 89 cents.

Net sales fell 6% to $1.74 billion, coming in short of Wall Street’s expectations.

This is the first time in three quarters that the toy giant has missed on both earnings and revenue expectations.

In May, Mattel pulled its annual financial targets and said it would increase prices for some products in the U.S. to counter higher input costs due to the Trump administration’s tariffs on key trading partners. 

On Tuesday the company issued full-year guidance that calls for net sales to increase between 1% and 3% and for earnings per share to come in between $1.54 and $1.66.

“While our U.S. business was challenged in the third quarter by industry-wide shifts in retailer ordering patterns, the fundamentals of our business are strong,” Mattel CEO Ynon Kreiz said in a release. “Since the beginning of the fourth quarter, orders from retailers in the US have accelerated significantly.”

Tariffs have put pressure on toy manufacturers industry-wide. Approximately half of Mattel’s global toy sales come from the U.S., and by the end of the year, less than 40% of Mattel’s product will be sourced from China, Kreiz noted on CNBC in May.

During the third quarter, sales in North America fell 12%, with the largest year over year declines in the company’s infant, toddler and preschool category. International sales meanwhile climbed 3%.

Overall, sales for two of Mattel’s largest toy brands saw declining sales: Global Barbie sales fell 17% from the same quarter a year earlier, and Fisher-Price sales dropped 19%. The company’s global Hot Wheels sales ticked up 8%.

Moving forward, Mattel has focused on expanding its entertainment offerings and employing new technology. On Tuesday, Mattel and Hasbro partnered with Netflix to capitalize on the success of the movie “KPop Demon Hunters” to offer dolls and other consumer products tied to the film.

Mattel is producing dolls, action figures, accessories and playsets and currently is taking pre-orders for a three-pack of dolls featuring Rumi, Mira and Zoey, the members of the fictional KPop trio HUNTR/X. Merchandise and toys from both companies will be available at retail in spring 2026.

Correction: Mattel reported net income of $278 million. A previous version of this article misstated the figure.

Shares of Netflix fell around 5% after the company posted a third-quarter earnings miss after the closing bell Tuesday.

The streamer cited an ongoing dispute with Brazilian tax authorities for the weaker-than-estimated results.

“Operating margin of 28% was below our guidance of 31.5% due to an expense related to an ongoing dispute with Brazilian tax authorities that was not in our forecast,” the company said in a shareholder letter. “Absent this expense, we would have exceeded our Q3’25 operating margin forecast. We don’t expect this matter to have a material impact on future results.”

Revenue for the quarter rose 17%, in line with analyst expectations. Netflix said the growth was driven by membership gains, pricing adjustments and increased ad revenue. For the fourth quarter, Netflix expects revenue to rise 17% year over year as those trends continue.

Here’s how the company did, compared with estimates from analysts polled by LSEG:

• Earnings per share:  $5.87 vs. $6.97, according to LSEG
• Revenue: $11.51 billion vs. $11.51 billion, according to LSEG

Netflix reported net income of $2.55 billion, or $5.87 per share, up from $2.36 billion, or $5.40, in the same quarter a year prior.

For the full-year, Netflix is predicting $45.1 billion in revenue, a 16% jump from the year prior, and in line with previous expectations of revenue growth of between 15% and 16%.

The company did alter its operating margin forecast for the year, stating that it now expects it to be 29% instead of the prior projection of 30%. Netflix cited the impact of the Brazilian tax matter for that change.

The company said it posted its best ad sales quarter ever during the quarter, with co-CEO Greg Peters noting that Netflix is on track to more than double ad revenue this year.

“Netflix had its best ad sales quarter to date, but still did not provide a figure for how large the ad business is,” said Ross Benes, senior analyst at EMarketer, in a statement. “This gives the impression that the sustained revenue growth achieved this quarter, and forecasted for next quarter, will predominantly continue to come from subscription fees.”

Netflix raised its prices in January, including the cost of its ad-supported tier.

But analysts are questioning if Netflix’s price-hiking power could be nearing its short-term peak. The company is expected to address questions during its earnings conference call Tuesday.

The streamer’s fourth-quarter slate of content contains a number of alluring titles, from the fifth and final season of “Strangers Things” and new seasons of “The Diplomat” and “Nobody Wants This” to Guillermo del Toro’s “Frankenstein” and Rian Johnson’s “Wake Up Dead Man: A Knives out Mystery.”

Netflix is also still riding the coattails of “KPop Demon Hunters,” which was released on the platform back in June. The animated film has become Netflix’s most-watched film with more than 325 million views on the platform.

Netflix announced Tuesday it’s expanding the animated film’s consumer reach with a dual products partnership with leading toy companies Hasbro and Mattel. “KPop Demon Hunters” dolls, plush, roleplay items and themed games will be available at retail in spring 2026. 

The company also noted that it is looking into incremental opportunities related to live experiences, publishing, beauty and lifestyle as well as food and beverages related to the film. “KPop Demon Hunters” is also returning to theaters once again during the Halloween holiday weekend.

This is breaking news. Please check back for updates.

DETROIT — General Motors raised its 2025 financial guidance Tuesday after beating Wall Street’s top- and bottom-line earnings expectations for the third quarter, while lowering its expected impact from tariffs.

GM stock rose more than 15% in trading Tuesday. The stock, which closed Monday at $58 per share, had its best day since 2020 and its second best day on the market since its 2009 emergence from bankruptcy.

Here’s how the company performed in the third quarter, compared with average estimates compiled by LSEG:

• Earnings per share: $2.80 adjusted vs. $2.31 expected
• Revenue: $48.59 billion vs. $45.27 billion expected
• Adjusted EBIT: $3.38 billion vs. $2.72 billion expected

GM’s third-quarter revenue of $48.59 billion was down less than 1% from $48.76 billion in the same period last year. Adjusted earnings exclude one-time or special items, some interest and taxes as well as other financials not considered “core” to the company’s operations. 

GM’s new outlook signals strength for the automaker heading into the fourth quarter and beats Wall Street analysts’ current expectations for the last three months of the year.

The updated guidance includes adjusted earnings before interest and taxes of between $12 billion and $13 billion, or $9.75 to $10.50 adjusted EPS, up from $10 billion to $12.5 billion, or $8.25 to $10 adjusted EPS, and adjusted automotive free cash flow of $10 billion to $11 billion, up from $7.5 billion to $10 billion.

The automaker’s new EPS target suggests fourth-quarter adjusted EPS of between $1.64 and $2.39, with a midpoint around $2.02, which is above current consensus of $1.94.

“Thanks to the collective efforts of our team, and our compelling vehicle portfolio, GM delivered another very good quarter of earnings and free cash flow,” GM CEO Mary Barra said Tuesday in a shareholder letter. “Based on our performance, we are raising our full-year guidance, underscoring our confidence in the company’s trajectory.”

GM also reduced the expected impact of tariffs this year to between $3.5 billion and $4.5 billion, down from $4 billion to $5 billion. The automaker expects to offset about 35% of that impact.

Barra on Tuesday thanked President Donald Trump for “the important tariff updates” Friday that included imposing levies on imported medium- and heavy-duty trucks and parts as well as extending a tariff offset worth 3.75% of the value of American-made vehicles.

GM’s adjusted results do not include $1.6 billion in special charges reported by the automaker last week due to its pullback in all-electric vehicles, which more than halved its net income attributable to stockholders compared with the third quarter of 2024.

The company’s net income attributable to stockholders was $1.3 billion during the just-reported period, down 57% from roughly $3.1 billion a year earlier. Its net income margin also plummeted to 2.7%, down from 6.3% a year earlier.

GM CFO Paul Jacobson on Tuesday said only about 40% of the company’s EVs were profitable on a production, or contribution-margin basis. He signaled that the company expects profitability for EVs to take longer than previously expected amid an expected slowdown in adoption.

“We continue to believe that there is a strong future for electric vehicles, and we’ve got a great portfolio to be competitive, but we do have some structural changes that we need to do to make sure that we lower the cost of producing those vehicles,” he told CNBC’s Phil LeBeau during “Squawk Box.”

GM has made significant gains in EV sales this year. Motor Intelligence reported that the Detroit automaker went from an 8.7% market share to begin this year to 13.8% through the third quarter – topping Hyundai Motor, including Kia, at 8.6% through September. GM still trails U.S. EV leader Tesla by a wide margin.