Pixar Rising After Strong Quarter - TheStreet

Shares of

Pixar

(PIXR)

were rising after the company posted a 90% increase in first-quarter earnings and raised its full-year outlook.

The movie animator earned $15.6 million, or 30 cents a share, in the first quarter, compared with $8.3 million, or 16 cents a share, a year earlier. Revenue rose to $37.1 million from $16.2 million a year earlier. On average, Wall Street analysts were predicting earnings of 23 cents a share, according to Thomson Financial/First Call.

The company also raised its projections for full-year 2002 earnings to a range of $1.15 to $1.25 a share from the previous range of $1 to $1.20. It cited anticipated strong video sales of its

Monsters Inc.

film.

Pixar's shares were recently up about 4% to $42.55.