The Baz Luhrmann directed film had a massive opening weekend.
Though it didn't beat out Disney's powerhouse "Iron Man 3" in its second box-office weekend, the adaptation of F. Scott Fitzgerald's classic performed better than anyone anticipated.
While "Gatsby" performed fantastic for Warner Bros., Tyler Perry's "Peeples" bombed at the box office.
Though the film was only produced and not directed by Perry, the film still marks his first box-office flop.
Out of the top ten this week is Bradley Cooper and Ryan Gosling's "The Place Beyond the Pines." After seven weeks, the film has earned nearly $20 million.
"Scary Movie 5" also bowed out of a top spot after five weeks in release.
Here are this weeks winners and losers in Hollywood:
10. "Oz the Great and Powerful" just made it into the top ten earning $802,000. With another round of big potential summer hits coming to theaters, this is probably the final hurrah for "Oz."
9. Reese Witherspoon's personal run-in with a cop hasn't negatively affected her film, "Mud." The movie, in less than 900 theaters, earned $2.5 million this weekend.
8. Robert De Niro's "The Big Wedding" moves down two notches this weekend earning $2.5 million. The film cost an estimated $35 million to produce and has earned $18.3 million to date.
7. DreamWorks Animation Studios' "The Croods" falls two spots this weekend earning $3.6 million. Oversall, the cavemen movie has earned more than $533 million worldwide.
6. With a lot of competition at the box office, Tom Cruise's "Oblivion" falls fast with $3.9 million. The futuristic Universal film has earned $242.6 million worldwide.
5. Jackie Robinson flick "42" has one of the smallest box-office drops (23.2%) this weekend, earning $4.7 million.
4. "Tyler Perry Presents Peeples" flops earning a mere $4.9 million. The film, though not directed by Perry himself, is produced by him and is his lowest box-office opening ever. "Peeples" cost an estimated $15 million to produce.
3. Mark Wahlberg's "Pain and Gain" holds with $5 million in week three. The film has now earned $41.6 million at theaters.
2. It may not have taken the top spot at theaters, but "The Great Gatsby" exceeded all box-office expectations earning a massive $51.1 million opening weekend. The film was originally tracking to earn near $40 million.
1. "Iron Man 3" has a strong second weekend earning $72.5 million. The sequel has now taken in $284.9 million at the box office in North America in two weeks. Worldwide, the film is closing in on $1 billion dollars.
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