Disney (NYSE: DIS) has been a global entertainment powerhouse for nearly a century, but for much of the last two and a half years, the business has grappled with pandemic.

Movie theaters were closed and production shoots delayed. Live sports went on hiatus for several months, and its theme parks have been shut down or heavily restricted for most of the pandemic. Disney+, the streaming service it launched in Nov. 2019, was an initial bright spot, but in the stock's 37% pullback over the last year, investors seem to have forgotten about its potential.

Coming into its fiscal third-quarter earnings report, which came out Wednesday afternoon, investors were curious to see if the company could ride the momentum in the pandemic recovery, and the entertainment giant absolutely did. Revenue in the quarter was up 26% to $21.5 billion, beating estimates at $20.6 billion, while adjusted earnings per share jumped 36% to $1.09, ahead of expectations at $1.00.

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Source Fool.com