Business briefs for August 8, 2003

Friday, Aug. 8, 2003 | 11:17 a.m.

'Finding Nemo' buoys Pixar earnings

LOS ANGELES -- The biggest animated film of all time buoyed revenue and earnings at Pixar Animation Studios in the second quarter.

The Emeryville, Calif.-based film studio said its net income nearly doubled to $19.5 million, or 34 cents per share, in the quarter ended June 28, compared to $10.4 million, or 20 cents per share, in the same quarter last year. The results beat Wall Street expectations by 12 cents a share.

Revenue for the quarter more than doubled to $49 million, from $23 million in the same period last year, as its animated film "Finding Nemo" set records at the box office.

The movie took in $260 million in worldwide box office receipts during the quarter. The movie has since earned more than $374 million.

McGriddles sizzle U.S. sales

OAK BROOK, Ill. -- McDonald's Corp. recorded lower comparable sales at its worldwide restaurants in July but registered an almost 10 percent jump in its U.S. business, helped by the introduction of new breakfast sandwiches and redesigned salads.

McDonald's same-store sales -- those at restaurants open at least 13 months -- rose 4.2 percent overall in July compared to a 3.6 percent decline a year earlier, the company said Thursday. European sales at established restaurants were down .06 percent, the best performance since July 2002, and the Asia Pacific, Middle East and African markets were down a combined 3.6 percent.

Results from existing restaurants in the United States, the fast-food giant's largest market, were up 9.9 percent.