PAWTUCKET – Hasbro Inc. on Monday reported fourth-quarter earnings that beat analysts’ estimates thanks to strong sales of “Transformers” toys tied to last year’s blockbuster film based on the brand.

Hasbro posted a profit of $165.56 million, or $1.09 a share, in the three months ended Dec. 27, compared with a profit of $93.58 million, or 62 cents a share, a year earlier. Revenue rose 12 percent to $1.38 billion.

Investors cheered the results, which beat the average 81 cent profit estimate among analysts surveyed by Bloomberg. In early trading on the New York Stock Exchange, Hasbro shares rose 11.3 percent to $34.29 at 10:23 a.m.

Hasbro, the second-largest toymaker after Mattel Inc., said sales of boys’ toys rose 16 percent, while game and puzzles sales jumped 18 percent. Sales of girls’ toys increased 4 percent.

President and Chief Executive Officer Brian Goldner said Hasbro expects higher sales and earnings this year barring a slowdown in consumer spending, major current fluctuations or a new downturn in the broader economy.

Goldner said the company expects to benefit starting next year from the creation of its new media division, Hasbro Studios, and the new cable television network for children it is developing with Discovery Communications Inc., The Hub, which is set to debut in the fall. The company also recently took the rights to “Sesame Street” toys from Mattel.

Hasbro has gotten a big boost in recent years from hit films based on its brands such as “Transformers” and “G.I. Joe.” This year, the company has two tie-in movies coming out – “Iron Man 2” and “Toy Story 3” – and the company has more set for 2011: “Stretch Armstrong,” “Spider-Man 4,” “Transformers 3,” “Thor” and “The First Avenger: Captain America.”

Timothy Conder, an analyst with Wells Fargo, told Reuters the company’s forecast for 2010 “is pleasantly surprising.”

“Overall, the fourth quarter was very good and was much better than we envisioned even factoring in what were clearly market share gains in action figures and games/puzzles,” Conder told Reuters.

For the full year, Hasbro posted a profit of $374.93 million, or $2.48 a share, up from a profit of $306.77 million, or $2.00 a share, a year earlier. Revenue rose 1.2 percent to $4.07 billion.

Additional information is available at hasbro.com.