Apple CEO Steve Jobs’ other company, Pixar, released its second-quarter earnings figures yesterday.
The figures show that Pixar, like Apple, is financially strong. Its earnings beat analysts expectations, with earnings of $8 million in the quarter, climbing from $6.4 million in the same quarter last year. Gross revenues rose from $13.5 million a year ago, to $18.3 this year. The earnings were driven by the success of Toy Story 2, which will be released on videocassette and DVD in October.
In an interview on CNBC following the results announcement, Steve Jobs, Apple and Pixar CEO, said: "We are trying to release a Pixar quality-animated film once a year."
Jobs said of industry rumours of components shortages: "We have our problems, just like everyone else, but nothing major is slowing us down at this point."
He also said: "Our belief is if we put out great products, then the stock will follow that."
Apple stock values climbed too, as investors responded to PaineWebber’s declaration that Apple was no longer a neutral, but an attractive investment. Apple stocks closed at $47.375.2 per share.