Disney is getting slammed

Disney shares slumped 7% in early trading 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%, missing the forecast 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. It had expected profit growth in the single-high-digit range between 2013 and 2016, but it now expects returns in the mid-single-digit range, according to Bloomberg.

ESPN also experienced losses in the quarter. The strong dollar has dented revenues in this business, and international theme park attendance has slowed.

For the year, the stock is still up 19%, and 30% for the past 12 months. It touched an all-time high on Tuesday.

Here's a chart showing the slump on Wednesday: