Mattel, Inc. (NASDAQ:MAT) shares were higher following the company’s latest quarterly earnings report, which saw its profit miss the mark, while revenue came in ahead of estimates.

The toymaker announced first-quarter earnings at a loss of 60 cents per share, which is 21 cents wider than the Wall Street consensus estimate of a loss of 39 cents per share. The company’s revenue tallied up to $708.4 million for the period, topping analysts’ expectations of revenue of $694.38 million.

Mattel’s worldwide net sales were down about 4% compared to the year-ago quarter, while its worldwide gross sales increased 2% year-over-year when excluding the impact of the Toys ‘R’ Us liquidation sale. The toymaker’s Key Power Brand momentum remains strong as Barbie and Hot Wheels sales were up by double digits during the period.

The company’s results reflect an $87 million operating income impact linked with the Toys ‘R’ Us liquidation, including $30 million in sales reversal. Mattel also announced that Ynon Kreiz has been named as the company CEO as of today, April 26, 2018.

“Our first quarter results reflect continued progress on executing our transformation plan,” said Joseph Euteneuer, CFO of Mattel in a statement. “In addition, we are tightly managing our working capital, and making disciplined investments in our business.”

MAT stock gained about 4.1% after the bell Thursday despite the company’s earnings miss.