He might not have his shares yet, but as he is set to become one of Disney’s biggest shareholders, Apple CEO Steve Jobs may be interested to learn that the company has just managed to beat its earnings estimates for the first-quarter.

The entertainment giant reported net income of $734 million compared with $686 million in the same quarter a year ago.

Revenue was 2 per cent higher at $8.85 billion (last year it was $8.67 billion).

Analysts polled by Thomson First Call projected the company's income would drop year over year, resulting in earnings of 30 cents a share for the period. The First Call estimate for sales was $8.79 billion.

Disney recently agreed to acquire Pixar, the animation studio headed by Apple CEO Jobs, in a long-anticipated $7.4 billion deal that has put Jobs on Disney's board of directors. Jobs will become the largest individual shareholder of Disney following the deal's close, according to news reports.