In post-market trading, shares sank 3.4% to $19.93.
For its first quarter ending June, management guided for net losses between 35 cents and 25 cents a share with revenue of $120 million to $135 million. Analysts surveyed by Thomson Reuters forecast a net loss of 16 cents a share and revenue of $209.7 million.
Over its year-ending March quarter, however, the owner of Rockstar Games and 2K Games exceeded analysts' estimates. The company earned $21.5 million, or 21 cents a share, compared to $42.9 million, or 38 cents a share, in the year-ago quarter. Despite the year-on-year decline, profits exceeded forecasts of $10.94 million, or 10 cents a share.
Quarterly sales of $233.2 million fell 23% from a year earlier, but blew past expectations of $202.51 million. The largest contributors to revenue included Grand Theft Auto V, NBA 2K14 and BioShock Infinite. Sales of digitally-delivered content soared 51% year over year, accounting for more than half of total revenue.
For its full year, the New York-based video game developer earned $4.26 a share, a nickel higher than expected. Revenue surged 97% to $2.4 billion, driven by successful launches throughout the year such as Grand Theft Auto V, the best-selling console video game of 2013 in North America, Latin America and Europe combined.
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