Walt Disney Co. reported first-quarter earnings as the company faces a number of challenges, despite recent box office success including a hit animated sequel.

NEW YORK -- Disney easily topped first-quarter expectations thanks in part to the box office success of “Moana 2.” The Walt Disney Co. earned $2.55 billion, or $1.40 per share, for the period ended Dec. 28. The Burbank, California-based company earned $1.91 billion, or $1.04 per share, in the prior-year period.

The entertainment company topped Wall Street expectations on core metrics; meanwhile, its streaming push continues.

Walt Disney sharply outperformed Wall Street's quarterly earnings estimates on Wednesday, with results buoyed by the strong holiday box office performance of animated sequel "Moana 2" and higher profits at the company's streaming business.

There were some oversized expectations for the animated film, but Moana 2 – originally intended as a series for the company’s streaming service before it was produced for the big screen – blew predictions out of the water.

Walt Disney Co. reported fiscal first-quarter results that topped analysts’ estimates, fueled by the blockbuster film Moana 2 and higher income from its streaming services.