Can’t say that the studio had a good quarter, but Wall Street is all about expectations and on that score it looks OK with shares up 7.8% post market. DreamWorks Animation generated $10M in net income, down 58.8% compared with last year, on revenues of $154.5M, -17%. Analysts expected revenues to come in at $140.3M. Earnings at 12 cents a share also beat expectations for a penny. The company says it will begin to report its numbers for four segments: feature films, TV series and specials, consumer products, and other. The feature film unit generated $120.7M in revenue and $55.4M in gross profit. Library titles contributed the most, with $52.2M in revenues. Rise Of The Guardians came next with $42.4M, mostly from worldwide pay TV.  Madagascar 3: Europe’s Most Wanted kicked in $10.9M, followed by the summer release Turbo with $6.4M, and 2011’s Puss In Boots with $4.8M. The TV operation had $18.2M in revenue and a $4.2M gross profit, which the company says came mostly from Classic Media content and Cartoon Network’s DreamWorks Dragons: Riders Of Berk.

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Consumer products generated $12M in revenue with a $3M gross profit, mostly due to Turbo. And digital venture AwesomenessTV accounted for most of the $3.6M in revenue for the “other” category. “Strength in our feature film segment is the single largest driver of our positive third quarter earnings,” CEO Jeffrey Katzenberg said. “It also continues to propel new areas for growth … as we have now transitioned into a global, diversified family entertainment company.”

Related: Mipcom: Jeffrey Katzenberg Talks DreamWorks Animation TV