Disney who? Steve Jobs rides a rocket named Pixar

Propelled by a movie about a clown fish that could, Pixar’s earnings surged 87 percent in its fiscal second quarter, Pixar reported Thursday.

“While crowing about ‘Finding Nemo,’ which grossed about $260 million worldwide during the period (The film’s U.S. box office receipts recently surpassed Disney’s 1994 ‘The Lion King,’ the previous top-ranked animated film; ‘Nemo’ has grossed $374 million worldwide since its initial release May 30), Pixar warned analysts against using the film as a benchmark for future productions.”

“‘Nemo’s performance is a once-in-a-lifetime experience, so please don’t expect it again,’ said Pixar chief executive and Apple Computer founder Steve Jobs,” reports Kelly Zito for the San Francisco Chronicle.

“Pixar’s profits increased to $19.5 million in the three months ended June 30, or 34 cents per share, versus $10.4 million, or 20 cents, in the year-ago period, the firm said in an earnings statement released after the close of trading. Revenues jumped to $48.9 million up from $22.8 million in the second quarter of 2002, due to ‘Nemo’ ticket sales as well as better-than-expected sales of its patented RenderMan software, which adds light, color and shading effects to computer-generated 3-D images. The results far outpaced analyst estimates. Analysts surveyed by Thomson First Call had forecast earnings of 22 cents per share,” Zito reports.

Full article here.

16 Comments

  1. Pixar shouldn’t move from Disney. You have to remember that not only can Disney distribute the films, they have a retail network for the merchandising, which doubles the amount a character’s license can generate. And for those of you thinking that Disney is dependant on Pixar, remember that Disney releases films under a number of studion names. Chicago brought in bucketloads of cash, although most people don’t realise that Miramax is Disney by another name.

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