( EW.com ) -- This just in : Ron Burgundy is no match for a fire-breathing dragon at the box office . `` Anchorman 2 : The Legend Continues '' ( CinemaScore : B ) beat out `` The Hobbit '' sequel on Friday , but updated totals show the Will Ferrell-starrer trailing Peter Jackson 's fantasy pic for the three-day weekend . In first place , `` The Hobbit : The Desolation of Smaug '' fell about 60 percent and brought in an estimated $ 31.5 million from 3,903 screens in its second weekend in theaters â€ ” spot on with Grady Smith 's prediction . Its domestic take now stands at a healthy $ 127.5 million . But that total lags behind the first `` Hobbit '' film by a significant margin . In 2012 , `` An Unexpected Journey '' dropped 56.4 percent in its second weekend , earning nearly $ 36.9 million and bumping its domestic total to $ 150 million . That film played in about 200 more theaters and had a stronger opening weekend . Meanwhile , Paramount 's heavily marketed `` Anchorman 2 : The Legend Continues '' opened in second place with a weekend estimate of $ 26.8 million . The PG-13 rated sequel opened in 3,507 locations Wednesday and is expected to net about $ 40 million for its first five days , much lower than EW 's prediction . The first `` Anchorman '' opened in July 2004 to $ 28.4 million and went on to gross $ 85.3 million domestically . EW review : 'Anchorman 2 : The Legend Continues ' Coming in third is Disney 's animated pic `` Frozen '' with $ 19.2 million , down only 15 percent from last weekend . The $ 150 million 3D musical has been in theaters for four weekends and boasts a $ 191.6 million domestic total . `` Frozen '' opened this weekend in Mexico , Italy , Lebanon , Greece , South Africa , Finland , Hong Kong , and Venezuela , and will continue its worldwide expansion in the coming weeks , including a release in China at a date still to be determined . Its current global total is $ 344.2 million . Director David O. Russell 's star-studded epic `` American Hustle '' ( CinemaScore : B+ ) took in an estimated $ 19.1 million ( meeting expectations ) from 2,507 theaters , landing it in fourth place . The '70s-set tale of con artists and strivers opened last weekend in limited release . Last year 's Best Picture-winner `` Argo '' opened to a similar $ 19.5 million weekend . Russell 's `` Silver Linings Playbook , '' which also starred Bradley Cooper and Jennifer Lawrence , had a vastly different box office story last year , playing in fewer than 800 theaters for nine weeks before expanding wide closer to the Oscars . EW review : 'American Hustle ' It would go on to gross $ 132 million domestically , making it the first Russell film to cross the $ 100 million mark . In addition to having the benefit of Russell 's recent successes , Sony 's `` American Hustle '' has the bonus selling points of stars Christian Bale and Amy Adams â€ ” both of whom are receiving raves for their performances . `` Saving Mr. Banks '' ( CinemaScore : A ) , another Disney property , snagged the fifth place spot in its first weekend playing to a wide audience with a slightly sub-par $ 9.3 million , bringing its worldwide total to $ 15.4 million . Audiences skewed female ( 57 percent ) , and 39 percent of attendees were under age 35 . Another awards contender ( for Best Picture and Best Actress for Emma Thompson 's portrayal of Mary Poppins creator P.L . Travers ) , the glossy PG-13 rated pic will likely enjoy a healthy holiday run . 1 . `` The Hobbit : The Desolation of Smaug '' -- $ 31.5 million . 2 . `` Anchorman 2 : The Legend Continues '' -- $ 26.8 million . 3 . `` Frozen '' -- $ 19.2 million . 4 . `` American Hustle '' -- $ 19.1 million . 5 . `` Saving Mr. Banks '' -- $ 9.3 million . Fox 's `` Walking With Dinosaurs '' ( CinemaScore : B ) opened outside of the top five to an estimated $ 7.3 million from 3,231 theaters . With the combination of `` Frozen '' and `` The Hobbit : The Desolation of Smaug , '' the family market was a bit too saturated to allow any box office leftovers for Fox 's 3-D dinosaur pic . The action-thriller `` Dhoom 3 '' broke the record for a Bollywood opening in the U.S. with $ 3.3 million from 236 theaters . The Coen brothers ' awards contender `` Inside Llewyn Davis '' expanded into 148 theaters and took in about $ 1.1 million for an impressive $ 7,169 per theater average . In the specialty box office world , Spike Jonze 's futuristic love story `` Her '' opened in six theaters Wednesday and brought in $ 258,000 across the weekend . Jonze 's film , starring Joaquin Phoenix , will open wide on January 10 . Feng Xiaogang 's Chinese comedy `` Personal Tailor '' made its U.S. debut in nine theaters and earned an estimated $ 104,000 . Finally , Asghar Farhadi 's Iranian mystery `` The Past , '' starring `` The Artist 's '' Berenice Bejo , opened in three theaters to $ 30,900 . See the original story at EW.com . CLICK HERE to Try 2 RISK FREE issues of Entertainment Weekly . © 2011 Entertainment Weekly and Time Inc. All rights reserved .
` ` Anchorman 2 '' was no match for ` ` The Hobbit '' sequel . ` ` Song of Smaug '' was No . 1 even after falling 20 % . It earned an estimated $ 31.5 million . ` ` [UNK] 2 '' came in second place with $ 26.8 million .