Strong sales of "Star Wars" and "Frozen 2" toys helped boost Hasbro's holiday sales during the fourth quarter, sending shares higher Tuesday.

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. Earnings in the latest period were helped by a one-time benefit of $102.5 million from gains in foreign currency hedging.

Excluding items, the company earned $1.24 per share, higher than the estimated 91 cents in a Refinitiv survey of analysts.

Net revenue rose 2.8% to $1.43 billion, but missed the estimate of $1.44 billion.

Share prices were up 4% in early trading Tuesday.

Revenue from Hasbro's partner brands unit, which includes sales of toys based on entertainment franchises, rose nearly 50% to $408.5 million in the fourth quarter.

For the full year partner brands rose 24% to $1.22 billion. The company pointed to strong sales of "Frozen 2," "Avengers," "Spider-Man" and "Star Wars" lines for the increase. Hasbro currently owns the master toy license for Disney's Marvel and Star Wars franchises as well as Frozen and Disney's collection of princesses.

The strength of these sales is proof that Hasbro's partnership with Disney continues to be a lucrative and stabilizing one, particularly in a post-Toys R Us world. Toymakers have had to rely more heavily on Amazon, Walmart and Target, as well as shelf space in drug and grocery stores. Retailers have seen that licensed brands can more easily draw in customers because children enjoy reenacting scenes from popular movies and TV shows.

Hasbro CEO Brian Goldner said the partnership with Disney is "very successful" and noted that "The Rise of Skywalker" and "The Mandalorian" have been big drivers of sales for the company. He said the Mandalorian Black Series figure, which is a high-end collectible with more articulation and detail than a traditional action figure, from the Disney+ show "The Mandalorian" was one of the top sellers in the fourth quarter.

"We're incredibly excited that 'The Mandalorian' season two will come to Disney+ this fall," he said during an earnings call Tuesday.