Dow Jones Business News Pixar Net Jumps 87% on Success of 'Finding Nemo' Thursday August 7, 5:45 pm ET
EMERYVILLE, Calif. -- Pixar Animation Studios posted an 87% jump in second-quarter profit on revenue from its hugely successful animated movie, " Finding Nemo." The digital-animation studio late Thursday reported net income of $19.5 million, or 34 cents a share, compared with net income of $10.4 million, or 20 cents a share, a year earlier.
The mean estimate of analysts surveyed by Thomson First Call (News - Websites) was for earnings of 22 cents a share.
Revenue more than doubled to $48.9 million from $22.8 million a year earlier.
Pixar said its revenue was driven primarily by $260 million in world-wide box office receipts from "Finding Nemo" during the quarter. The film opened on May 30.
"'Finding Nemo' has passed 'The Lion King' to become the most successful animated film ever released in North America," said Steve Jobs, Pixar's chief executive, in a prepared statement.