If Harry Potter can go from SS's 317mil to CoS's 267mil despite good reviews, normal running time and as strong/increasing fan-base i don't see why Hobbit's drop from 303mil to 250-260mil should be considered a failure. I do think they left some money on the table because of how AUJ was received, but DoS is doing as expected. If it has been genuinely well received, it will show in DoS's dvd/blu-ray and TABA's box office.