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. Its five-day opening set a new record for Thanksgiving moviegoing.

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 reported higher quarterly profits Wednesday, posting increased revenues in its streaming business as it eyes a rollout of a key ESPN product later this year.