On the strength of Spider-Man, Play-Doh and Nerf, the world’s second-largest toymaker reported better than expected Q1 numbers on Monday.

Net revenues came in at US$625.3 million, an increase of 34% over last year. Net income ended up at US$32.9 million, which translates into a gain of US$0.19 per share; analysts had predicted a much smaller US$0.01 increase.

Continued strength in the board game category, as well as increased shipments of Marvel licensed products and the growth of core brands My Little Pony and Littlest Pet Shop, all helped the company’s bottom line.

A closer look at the data indicates that particularly strong performances by toys such as My Little Pony and the Baby Alive doll helped Hasbro increase its girls toy take by 62%, while board game mainstay Monopoly (which earned 22% more compared to Q1 ’06) propped up the whole category by 8%.

The company’s biggest Q1 earner was its Nerf sports equipment line, which jumped 72% over last year.