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.

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

Blockbuster hit Moana 2 helped drive The Walt Disney Company (DIS) to beat quarterly profit expectations amid a resurgence in studio successes,

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.

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

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. The quarter, which ended in December,