I understand it made back its money the first weekend. So Follywood will chalk it up as a success. Needless to say it fell far short of the hype.
It got lukewarm (at best) reviews, even in liberal publications. Big career mistake for the actors involved. I know some people who saw it and were quite underwhelmed. This will be landing in $5.99 DVD bargain bins across the nation real soon.
You understand incorrectly, then, but it's likely not your fault; you were probably misled badly. Counting international box office receipys, it made more money than it cost to produce. But theater owners get over half of the take; overseas distribution costs a lot more; and there's always marketing costs.
Rule of thumb is if the Domestic take is greater than the production costs plus marketing costs, the movie will have made money. On the one hand, the movie seems like it has done better in the foreign market than most movies grossing the same amount in the domestic market make. On the other hand, that rule of thumb also includes presumptions of VHS and DVD sales and rentals. Usually movies that crash so quickly underperform as VHS and DVDs.
Nonetheless, it probably eventually will make a prophet. The issue is whether it is worth the damage to the principals' careers. Howard and Hanks both rely on a very Mom-and-Apple-Audience which is most likely to think badly of them afterwards... like me.
It was more popular in the rest of the world than in the US
Its doing better overseas than here. Its not like the US is the only market.