In an era with international markets and DVD sales, no movie with a marketing campaign behind it and which only cost $25 million to make will ever be considered a flop; even if that movie is Machete and it only managed to earn $11.3 million its opening weekend. That's slightly less money than was earned by Grindhouse, the movie it's a spinoff from, which is considered a flop, but only because it cost more to make and only because The Weinstein Company still hasn't given it a proper DVD release to suck the marrow off our fanboy bones.
So Machete will probably break even, but the truth is that $11 million dollars and a #3 opening means that, earnings aside, it really hasn't found an audience. Machete may earn a profit, yet it's far from a hit, and it's certainly not the success people were hoping it would be. At least it should have surpassed Grindhouse, and if it couldn't do that, then something's gone a little bit wrong.