Luv2Roam
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Monster Earnings for Pixar
After the bell Thursday, Pixar Animation Studios (Nasdaq: PIXR) reported second-quarter earnings of $0.20 per share, almost doubling analyst estimates of $0.11. Net income increased 18% year over year to $10.4 million on $22.8 million in revenues.
As box office receipts for its animated blockbuster Monsters, Inc. declined, Pixar's revenues fell 39% from $37.1 million in the first quarter. However, strong home-video sales of Toy Story, Toy Story 2, and A Bug's Life helped the company handily beat the $19.5 million estimate. Next month, Pixar will release Monsters, Inc. on DVD and VHS, hoping to see an even bigger, stronger, stealthier monster of a quarter. Pixar expects third-quarter earnings of $0.68 to $0.72 per share.
As CEO Steve Jobs said, "Pixar is firing on all cylinders." The number one animation studio in the world, Pixar proclaimed 49% market share.
The company is nearing the end of its 50/50 partnership with Disney (NYSE: DIS), in which Pixar produces animated films and Disney distributes and markets them. Next summer's Finding Nemo, holiday 2004's The Incredibles, and holiday 2005's Cars will be the last under that deal, which has produced over $1.7 billion in global ticket sales.
Pixar also raised its full-year earnings forecast from $1.15 to $1.25 per share to between $1.25 and $1.34 per share.
After the bell Thursday, Pixar Animation Studios (Nasdaq: PIXR) reported second-quarter earnings of $0.20 per share, almost doubling analyst estimates of $0.11. Net income increased 18% year over year to $10.4 million on $22.8 million in revenues.
As box office receipts for its animated blockbuster Monsters, Inc. declined, Pixar's revenues fell 39% from $37.1 million in the first quarter. However, strong home-video sales of Toy Story, Toy Story 2, and A Bug's Life helped the company handily beat the $19.5 million estimate. Next month, Pixar will release Monsters, Inc. on DVD and VHS, hoping to see an even bigger, stronger, stealthier monster of a quarter. Pixar expects third-quarter earnings of $0.68 to $0.72 per share.
As CEO Steve Jobs said, "Pixar is firing on all cylinders." The number one animation studio in the world, Pixar proclaimed 49% market share.
The company is nearing the end of its 50/50 partnership with Disney (NYSE: DIS), in which Pixar produces animated films and Disney distributes and markets them. Next summer's Finding Nemo, holiday 2004's The Incredibles, and holiday 2005's Cars will be the last under that deal, which has produced over $1.7 billion in global ticket sales.
Pixar also raised its full-year earnings forecast from $1.15 to $1.25 per share to between $1.25 and $1.34 per share.
