As a result of Barbie’s smash success, Mattel is doubling down on its plans to expand “outside the toy aisle”.

For the three months ending in June, the California-based firm’s sales fell by 12%.

A number of Mattel’s brands, including Barney, Hot Wheels, and Polly Pocket, will also appear in upcoming Hollywood films.

CEO Ynon Kriez said Barbie “speaks to the potential of Mattel films” in the company’s earnings presentation.

It is a milestone for Mattel and a showcase for our IP [Intellectual Property].

Besides releasing a soundtrack album and entering into more than 165 consumer product partnerships for the Barbie movie, Mattel has not yet said whether it will make money directly from it.

Although net income for the period fell by almost 60% from the same period last year, it beat Wall Street expectations at $27 million (£20.8 million).

In extended New York trading, Mattel’s shares fell 1.8% after its earnings were announced. Mattel shares have risen nearly 16% in the last month.

A Barbie and Ken movie starring Margot Robbie and Ryan Gosling explores the identities of the children’s characters.

Kriez told the BBC earlier this month that he aimed to emulate Marvel’s success by creating a “Mattel universe.”

The Marvel universe has been the setting for dozens of blockbuster movies, featuring characters such as Iron Man, Thor, and Captain America.

Bob the Builder, Thomas the Tank Engine, and Uno are among Mattel’s household names in addition to Barbie.

Richard Dickson, Mattel’s chief operating officer, also announced his departure on Wednesday.

He was named Gap’s new chief executive after helping revive the Barbie brand.