Disney stock rose 9% Tuesday after the company reported a $3.4 billion net loss on sales of $4.9 billion for the year.

Disney shares closed at $93.87, up $3 a share.

The company also posted net income of $1.2 billion, or about $4 a share, on sales.

Disney said the results were due to an $8.2 million net loss from operations for the quarter.

Disney’s net loss for the fiscal year ended March 31 was $2.4 million.

Disney is in a tough financial position.

The corporation has already posted a loss for fiscal 2016, when it had to pay $1 billion in tax on profits it generated during fiscal 2015.

That was its largest loss in decades.

The $2 billion loss comes amid a slow global economy and a major shakeup at the Disney board.

The results came a day after the stock fell more than 7% after Disney reported a loss of $7.1 billion on sales for the current fiscal year.

Shares in Disney are down about 7% this year.