A day after posting strong second quarter earnings, shares in Walt Disney Co. lost nearly 5 percent after the entertainment company said ad sales have slowed in recent weeks.

The Burbank company said that weaker spending by consumer electronics companies, car makers and financial service providers has hurt ad revenues at Disney’s TV stations as well as its ABC and ESPN networks.

Ad sales at ESPN were highlighted Wednesday as a bright spot in the earnings, with the company saying ad revenue at the all-sports network grew more than 10 percent during the quarter.

Shares in Disney were down 4.2 percent to $30.41 in early trading Thursday.