First - production budgets do not include the cost of marketing a film (advertisements, tie-ins, campaigns, etc), and while most studios do not publicize their marketing budgets, what information has become available or leaked over the last 10-20 years suggests that the standard for most major studios is that marketing costs will usually be anywhere from 60-120% of the published production budget (with bigger blockbusters leaning towards the higher end of the spectrum and smaller films leaning toward the lower end). So when a Marvel movie comes out and its published budget is, say, $100M, it means the studio probably spent anywhere from $60-120M on marketing.
Second - box office revenue is not the same as actual studio earnings, Uncle Sam takes a cut of any domestic earnings, and international governments do the same. So while a film made by an American studio will generally make as much or more from overseas markets, it's generally going to end up keeping less of each dollar earned overseas than it does domestically.
The general rule of thumb is that a movie needs to make back *at least double* its published production budget to break even, and more than that to turn a significant profit. Beauty and the Beast made 7.9 times its production budget. Jungle Book, 5.5. Christopher Robin, 2.6. Dumbo, 2.07. Realistically once you take marketing and taxes into consideration, Dumbo probably just *barely* broke even.