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.

Disney easily topped first-quarter expectations thanks in part to the box office smash “ Moana 2.” 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.