By Yasin Ebrahim

Mattel (NASDAQ) announced Wednesday that it had a surprising first quarter as strong toys demand boosted results.

After-hours trading saw Mattel share gains of more than 33% following the news.

Mattel posted earnings per share in the range of 8c on revenues of $1.04billion. Investing.com asked analysts to forecast a loss per share of 38 cents for revenue $917.02million.

Due to high demand for toys such as action figures, dolls and games, gross billings in North America, which account for almost half of the company’s revenue, rose 25%.

The company has reiterated its fiscal 2022 guidance. It forecasts adjusted EPS between $1.42 and $1.48 based on net sales growth of 8 to 10%.

You can keep up-to date on the latest earnings reports by visiting Investing.com’s earnings calendar