Pixar Animation sprang a surprise for their investors and the market as they announced 3rd quarter profits about double the level film studio said they were expecting. I guess that means this was a surprise to Pixar as well?
Pixar released no new films for the quarter, but did well from home video/DVD sales of library movies, particularly Finding Nemo and Toy Story.
Pixar has had a bit of a tough run recently, so some good news has to be welcome and indeed their stock price shot up 10% last night. Mind you, things need to get better, as their revenues and earnings for the last quarter were broadly flat on the same quarter last year.
Is Mr Jobs too focused on Apple? I mean, its not like animation is no longer the rage. Maybe there's just more competition.