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Feb 11 (Reuters) - Hasbro Inc beat holiday-quarter profit estimates on Tuesday, boosted by lower costs and demand for toys based on Disney's Frozen and Star Wars franchises, sending the company's shares up nearly 9% in premarket trading.
"The Rise of Skywalker", the final installment in the over four-decade old Star Wars saga, has grossed over $1 billion worldwide since its December release and was a boon for Hasbro, which has the license to make toys based on the franchise's droids, stormtroopers and lightsabers.
Revenue from Hasbro's partner brands unit, which includes sales of toys based on the Star Wars and Frozen movies, rose nearly 50% to $408.5 million in the fourth quarter.
Hasbro's costs fell to 40.4% of its total revenue from 43.3% a year earlier, helped by an about 30% cut in advertising spending.
Net income rose to $267.3 million, or $2.01 per share, in the fourth quarter ended Dec. 29, from $8.8 million, or 7 cents per share, a year earlier.
The reported quarter included a one-time benefit of $102.5 million from gains in foreign currency hedging.
Excluding items, the Pawtucket, Rhode Island-based company earned $1.24 per share, above analysts' average estimate of 91 cents, according to IBES data from Refinitiv.
Net revenue rose 2.8% to $1.43 billion, but missed the estimate of $1.44 billion. (Reporting by Uday Sampath and Praveen Paramasivam in Bengaluru; Editing by Sriraj Kalluvila and Saumyadeb Chakrabarty)