"Transformers: Age of Extinction" is the first movie of 2014 to reach the $1 billion-dollar box office plateau, according to ComicBookMovie.com. The film is the second in the Michael Bay-helmed franchise to reach the high-water mark; the first was 2011's "Transformers: Dark of the Moon."

The main reason for the success of "Age of Extinction" is the record-setting box office take in China, where the Mark Wahlberg-starring movie grossed $301 million during its run in the global powerhouse, according to Deadline. While the movie has yet to debut in Japan, Spain and Venezuela, "Age of Extinction" has pulled in $763.8 million outside of the U.S. while raking in $241.2 million in American ticket sales during its run, which began on June 27.

Brad Grey, the chairman and C.E.O. of Paramount was quick to heap praise on the movie's director/producer and its star.

"Time and again, Michael has delivered pictures that audiences around the globe truly love," said Grey, who extended Bay's contract with Paramount last week, according to The Hollywood Reporter. "Along with the immensely talented and versatile Mark Wahlberg, the great Steven Spielberg as executive producer, and a superb cast, he created a powerful re-launch of this franchise. This tremendous accomplishment – to be the first film of 2014 to earn over $1 billion at the box office – proves once again that Michael is a world-class filmmaker at the top of his game."

As a whole, the movie franchise has currently grossed a total of $3.745 billion since the first installment, "Transformers" was released in 2007.