Disney shares plunged 9% on Wednesday after the company reported a miss on revenues.
On Tuesday evening, Disney reported third-quarter revenues of $13.1 billion, up 5.1% from the prior year but below consensus forecasts for $13.2 billion.
Earnings came in at $1.45 a share excluding items, beating the forecast for $1.41.
The company also slashed its outlook for profits in the cable business.
Disney had expected profit growth in the single- to high-digit range between 2013 and 2016, but the company said it now expects returns in the mid- to single-digit range.
On Tuesday ahead of earnings, Disney shares closed at an all-time high. Year-to-date, the stock is still up about 19%.
Most of the discussion about Disney's quarter has been around ESPN, the sports network that is part of the company's cable segment that accounts for roughly half the company's profit.
Here's a chart showing the slump on Wednesday:
