Updated with recent stock moves.

Transforming robots and supersoldiers helped toy-maker Hasbro ( HAS) blow away profit estimates during the second quarter.

Hasbro said its earnings rose to $39.3 million, or 26 cents a share, from $37.5 million, or 25 cents a share, a year earlier. Earnings in the latest quarter include costs of 6 cents a share from a joint venture with Discovery Communications ( DISCB) and costs associated with financing.

Sales ticked up 1% to $792.2 million from $784.3 million last year. Hasbro added that sales would have risen further if not for foreign currency exchanges.

A survey of analysts by Thomson Reuters forecast that Hasbro would earn 23 cents a share in the quarter on revenue of $797.08 million.

Hasbro said that sales growth was primarily driven by a slew of core toy brands like Transformers and G.I. Joe. Those brands, in particular, have summer movie tie-ins this season. Sales in the U.S. and Canadian segment grew to $490.9 million from $467.7 million in the year-earlier period, while international sales fell to $276.2 million from $293.7 million largely because of the $42.8 million forex hit.

The lack of summer blockbuster tie-ins proved a problem for Mattel ( MAT) in the second quarter, though last week the Hasbro rival still posted a profit thanks to some nifty cost-cutting.

Hasbro also said that the cost of its Discovery joint venture would be less than previously anticipated, affecting earnings by between 15 cents to 20 cents a share in 2009, compared with a previous guidance estimate of 25 cents to 30 cents a share. In 2010, the impact will be between 25 cents and 30 cents a share, compared to the previously announced estimate of 30 cents to 35 cents a share.

Shares of Hasbro climbed 89 cents, or 3.5%, to come to $26.27 in the early afternoon.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

Why Hasbro Thinks Star Wars Toys Are Still a Big Deal

Why Hasbro Thinks Star Wars Toys Are Still a Big Deal

Walmart's Quarter and Outlook Probably Have Wall Street Confused

Walmart's Quarter and Outlook Probably Have Wall Street Confused

Blame Amazon for Walmart's Surprising 2018 Outlook

Blame Amazon for Walmart's Surprising 2018 Outlook

Hasbro Is Full Steam Ahead Despite Toys R' Us Bankruptcy

Hasbro Is Full Steam Ahead Despite Toys R' Us Bankruptcy

Hasbro CEO: I Am Totally Bullish on Star Wars Franchise

Hasbro CEO: I Am Totally Bullish on Star Wars Franchise