Hasbro Inc's quarterly profit beat Wall Street estimates, helped by international demand for the No. 2 U.S. toy company's action figures, games and puzzles, and the company said it should be able to grow revenue and profit in 2011.

This year, Hasbro will sell toys and games based on characters such as Elmo and Cookie Monster from the American children's television series Sesame Street.

Hasbro's results come less than a week after industry leader Mattel Inc handily beat Wall Street estimates in its fourth quarter covering the holidays.

Quarterly net profit at Hasbro was $140.0 million, or 99 cents a share, compared with $165.6 million, or $1.09 a share, last year.

Analysts on average were expecting the maker of Nerf foam toys and Monopoly board games to earn 92 cents a share, according to Thomson Reuters I/B/E/S.

Total sales were $1.28 billion, compared with $1.38 billion a year ago. However, international sales rose 12 percent.

Shares of the company, which launched a new children's television network -- The Hub -- in a joint venture with Discovery Communications Inc , closed at $44.82 on Friday on Nasdaq.

(Reporting by Dhanya Skariachan and Nivedita Bhattacharjee; Editing by Anne Pallivathuckal and Maju Samuel)