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.

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,

The Walt Disney Co. toppled Wall Street expectations in its latest quarter, with the company’s entertainment division and streaming business leading the charge. Disney reported revenue of $24.7 billion in its fiscal Q1,

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.

Walt Disney surprised analysts with a strong first-quarter performance, driven by an uptick in its direct-to-consumer segment and content sales.