Exhibit 99.1

Press Release	for more information contact:
for immediate release	Nils Erdmann	Investor Relations
		Pixar Animation Studios
		(510) 752-3374
	John Buckley	Brainerd Communicators
		(212) 986-6667

Pixar Reports Second Quarter Financial Results

EMERYVILLE, CA — (August 5, 2004) Pixar Animation Studios (Nasdaq: PIXR) today announced financial results for its fiscal second quarter ended July 3, 2004. For the quarter, Pixar earned $37.4 million or $0.63 per diluted share. These results compare to earnings of $19.5 million, or $0.34 per diluted share, achieved in the year-ago quarter. Revenues for the quarter were $66.3 million, as compared to $48.9 million in the year-ago quarter.

Revenues for the six months ended July 3, 2004 were $120.1 million, compared to $67.5 million for the six months ended June 28, 2003. Earnings for this year’s six-month period were $64.1 million, compared to $27.7 million for the prior year’s six months. Diluted earnings per share were $1.09 as compared to $0.49 for the respective six-month period.

Revenues for the second quarter of 2004 were driven primarily by the continuing success of Finding Nemo, particularly from worldwide home video sales. This compares to the year-ago period during which revenues were driven largely by worldwide box office receipts from Finding Nemo. Continuing film revenues from Monsters, Inc. and Pixar’s library titles, as well as a number of non-film related items, also contributed to the company’s results.

“Our performance this quarter highlights the ongoing success of Finding Nemo and the longevity of all of our films,” said Pixar CEO Steve Jobs. “Next up: The Incredibles, which we’ve now completed and are gearing up for its November 5th release. Prepare to be blown away.”

The company will discuss its second quarter 2004 earnings results and fiscal year 2004 business outlook during the conference call to be held today, Thursday, August 5, 2004, at 2:00 p.m. (Pacific Time). The call, hosted by Pixar’s president, Ed Catmull, and executive vice president and chief financial officer, Simon Bax, can be accessed by dialing 888-428-4480 (U.S.) or 651-291-5254 (Int’l) approximately 10 minutes prior to the start time. Additionally, a replay of the call will be provided through Monday, August 9, 2004 until

midnight Eastern Time. To access the replay, please call 800-475-6701 (U.S.) or 320-365-3844 (Int’l) and reference the reservation code: 739503.

Pixar will also provide live audio streaming of its second quarter 2004 results conference call. The webcast will be accessible through Pixar’s web site at http://www.pixar.com/investor/index.html.

About Pixar Animation Studios
Pixar Animation Studios (Nasdaq: PIXR, http://www.pixar.com) combines creative and technical artistry to create original stories in the medium of computer animation. Pixar has created five of the most successful and beloved animated films of all time: Academy Award®-winning Toy Story (1995); A Bug’s Life (1998); Golden Globe-winner Toy Story 2 (1999); the Academy Award®-winning Monsters, Inc. (2001); and the Academy Award®-winning Finding Nemo (2003). Pixar’s five films have earned $2.6 billion at the worldwide box office to date. The Northern California studio’s next two film releases are The Incredibles (November 5, 2004) and Cars (holiday 2005).

This release contains forward-looking information regarding Pixar’s targeted release dates for Pixar’s future films and actual results may differ materially. Factors that could cause delays in the release of our films include, but are not limited to: (1) the uncertainties related to production delays; (2) financing requirements; (3) personnel availability; (4) external socioeconomic and political events; and (5) the release dates of competitive films. Please refer to Pixar’s 2003 Form 10-K and First Quarter 2004 Form 10-Q, particularly the sections on risks, for important factors that could cause actual results to differ.

Pixar Animation Studios
Condensed Statements of Income
(Unaudited, in thousands, except per share data)

	Three Months				Six Months
	Ended				Ended
	July 3,		June 28,		July 3,		June 28,
	2004		2003		2004		2003
Revenue:
Film	$	63,713	$	45,182	$	114,805	$	61,557
Software		2,576		3,694		5,308		5,976
Total revenue		66,289		48,876		120,113		67,533
Cost of revenue		6,437		7,805		12,341		10,755
Gross profit		59,852		41,071		107,772		56,778
Operating expenses:
Research and development		4,154		6,599		7,552		8,920
Sales and marketing		635		578		1,007		966
General and administrative		3,017		4,624		6,093		7,009
Total operating expenses		7,806		11,801		14,652		16,895
Income from operations		52,046		29,270		93,120		39,883
Other income, net		2,489		3,001		5,385		5,905
Income before income taxes		54,535		32,271		98,505		45,788
Income tax expense		17,150		12,747		34,378		18,086
Net income	$	37,385	$	19,524	$	64,127	$	27,702
Basic net income per share	$	0.66	$	0.36	$	1.14	$	0.52
Diluted net income per share	$	0.63	$	0.34	$	1.09	$	0.49
Shares used in computing basic net income per share		56,287		53,685		56,039		53,365
Shares used in computing diluted net income per share		58,987		56,788		58,797		56,476

Pixar Animation Studios
Condensed Balance Sheets
(Unaudited, in thousands)

	July 3,			January 3,
	2004			2004
ASSETS
Cash and investments	$	755,192		$	521,923
Receivables, net		33,054			213,186
Prepaid expenses and other assets		1,365			1,047
Deferred income taxes		52,514			51,496
Property and equipment, net		117,027			115,026
Capitalized film production costs		122,833			107,667
Total assets	$	1,081,985		$	1,010,345
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Accounts payable	$	1,132		$	1,803
Accrued liabilities		13,279			13,007
Income taxes payable		3,567			37,595
Unearned revenue		17,070			17,430
Total liabilities		35,048			69,835
Shareholders’ equity:
Common stock		590,878			546,999
Accumulated other comprehensive income (loss)		(1,265	)		314
Retained earnings		457,324			393,197
Total shareholders’ equity		1,046,937			940,510
Total liabilities and shareholders’ equity	$	1,081,985		$	1,010,345