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.

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,