CA was recently off $1.59, or 5.7%, to $26.25.
The business software maker said it narrowed its fourth-quarter loss to $20 million, or 4 cents a share, from $41 million, or 7 cents a share a year earlier.
Excluding items, CA earned 20 cents a share, matching the Thomson Financial analyst consensus estimate.
Revenue rose 7% to $1.01 billion, in line with analysts' forecasts.
For fiscal 2008, CA said it expects to earn 94 cents to 98 cents a share before items on revenue of $4.05 billion to $4.1 billion.
Analysts were expecting earnings of $1.03 a share before items on revenue of $4.12 billion.
CA also said it is in the process of executing an accelerated share repurchase of up to $500 million in common shares. The transaction will be financed with existing cash.