Mattel could soon raise the prices of toys such as Barbie and Hot Wheels in response to new tariffs imposed by President Donald Trump, executives said Tuesday.

Mattel executive says it may have to charge consumers more for its toys because of higher tariff costs on imports from China.

Mattel said net income of $141 million dipped by $6 million on revenue that nosed up 2% to $1.65 billion, beating estimates for the quarter and offering a higher than expected full-year forecast that pushed the stock higher.