Pixar Tops Third-Quarter Estimates, Raises Guidance

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Pixar

(PIXR)

said third-quarter earnings topped expectations and the company raised its fourth-quarter guidance.

The Emeryville, Calif., animated-film producer earned $6.2 million, or 12 cents a share, in the latest quarter, down from $8.8 million, or 18 cents a share, last year. The latest quarter's results, which don't reflect results of the current movie

Monsters, Inc.

, topped analysts' consensus estimate of 10 cents a share.

Pixar also said it expects to earn 60 cents a share in its fourth quarter, slightly higher than its previous guidance of 50 cents to 58 cents a share. The company cited improvements in the licensing of characters from its film library.