Demand for Barbie dolls and toys based on "Jurassic World" and "Toy Story" led Mattel to a narrower-than-expected-loss during the first quarter.

Shares of the toymaker skyrocketed as much as 14 percent after the closing bell Thursday.

The results, which come just days after rival Hasbro reported a surprise profit, may indicate that the U.S. toy industry is finally able to put the bankruptcy and closure of Toys R Us behind it.

Sales of Barbie jumped 7 percent in the quarter, the sixth consecutive quarter of growth for the doll brand. This is a good sign for Mattel, especially as it plans the theatrical release of a live-action Barbie movie starring Oscar-nominated actress Margot Robbie.

The brand has also become more inclusive, adding new skin tones and professions to its line-up of dolls.