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Pixar earnings beat expectations

Pixar, the animation studio powerhouse with Steve Jobs as its CEO, has reported first quarter earnings that soundly beat expectations, reports TheStreet.com. Earnings came in at US$81.9 million, or 67 cents per share, up from the year-ago profit of $26.7 million, or 23 cents a share. Revenue increased to $161.2 million from $53.8 million a year earlier, which is attributed to strong sales of the company’s latest DVD release, “The Incredibles.” In after-market trading Thursday, Pixar shares rose $2.78 to $49.05.

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