Toymaker Hasbro (HAS) - Get Report smashed Wall Street earnings estimates in the second quarter on the back of strength in North America.

The company posted adjusted earnings per share of 78 cents vs. analysts' expectations of 50 cents. Last year, the company earned 48 cents a share.

The profit increase was helped by a 14% jump in revenue for the U.S and Canadian business and a 46% jump in profits for that region. The U.S. and Canadian region accounts for the lion's share of the profits and slightly more than half the revenue.

The management is optimistic for continued good business later this year.

"We are well-positioned for the holiday season with major brand initiatives across categories, including The Walt Disney Animation Studios' "Frozen 2" and Lucas Films' "Star Wars: The Rise of Skywalker" which do not launch until the fourth quarter," said Deborah Thomas, Hasbro's chief financial officer, in a statement.

Hasbro shares rose 4.13% to $112.99 in premarket trading on Tuesday.

Constable owns none of the securities listed in this story.