The film itself is quite short for a work by Jackson, with only 2:24 min duration, of which the last 10 minutes. Credits are.
The story (if available)
Thorin sits in the mountain and gets' ne Meise, will give no gold. However, the humans and elves want abhaben what. The Orcs just want to kill all. It comes to the battle of the 5 army. Bilbo goes after home.
It rummst and crashes almost all the time, constantly being fought. This is staged spectacular, it will not be bored. The CGI sequences, of which there are innumerable much, vary greatly in quality. Mnachmal one has to see to feel a video game sequence, other effects are as good, that they really look real.
Humor
In some places one has a bit of an exaggeration, when I think, for example, to the various mounts. Since I had to laugh out loud several times, including when the dwarves on a kind of goat vertical (!) Riding high rock faces or has the antlers of a deer riding / -elchs the format of an aircraft carrier. Legolas artistic feats are driven in this film on the top, but what seems already rather satirically unfortunately is deadly serious.
Reference to the book
It happens at least the eponymous Hobbit, that's ever was.
Conclusion
Entertaining fantasy film in the Tolkien universe with good to very good tricks.