The Walt Disney Company has had quite the fiscal year so far.
You might remember the Q2 Earnings Call back in May that showed just the beginning of what the global health crisis would mean for Disney. And today, the Q3 Earnings Call brought us more outcomes from the unprecedented park closures, entertainment shut-downs, and cruise catastrophes brought by the last four months.
Some of Disney’s segments — most prominently the Parks, Experiences, and Products segment — saw income numbers plummet. But despite billions in losses, Disney’s stock skyrocketed after hours last night. But why?