Disney warned during its fiscal fourth-quarter report in November that it expected a “modest decline” in subscriptions during the December period.

Moana 2' helped float a solid fiscal first quarter for Disney with studio profit riding the strong box office of the animated sequel that’s topped $1 billion worldwide.

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.

By Dawn Chmielewski and Lisa Richwine (Reuters) - 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.

Disney (NYSE:DIS) reported its first quarter earnings on Wednesday, showing a profit on its streaming segment while its parks business took a hit from two back-to-back hurricanes, together with greater investment in its cruise ships.