Apple CEO Steve Jobs other company Pixar has beaten expectations with its first-quarter earnings thanks to DVD sales of The Incredibles, the second highest-grossing Pixar film after Finding Nemo.

The company posted first-quarter earnings of $81.9 million, or 67 cents per share, up from the year-ago profit of $26.7 million, or 23 cents a share.

Thomson First Call had expected earnings of 47 cents per share on $116 million in revenue.

Jobs said: "We're off to a terrific start with The Incredibles shaping up to be the best-selling DVD of 2005. Cars is looking great, and we're also very excited about the 10-year anniversary re-release of Toy Story on DVD this fall," writes The Street.

Jobs described Cars, Pixar's next release due to hit cinemas in June 2006, as "the most detailed computer-generated animated film ever made". The company is "on track to finish Cars this October", he said.

He also revealed that he'd had "nice conversations" with Disney's new head Robert Iger – who replaced Michael Eisner with whom Jobs had a turbulent relationship. But Jobs dispelled any rumour that the two companies would reinstate their contract to work together on Pixar films. "We're not in negotiations," said Jobs, later indicating that the company would be negotiating "with studios in coming months."