Electronic Arts Inc. narrowed its net loss in the last quarter but video game sales declined, and a disappointing outlook for the company sent its shares down sharply Monday.

Electronic Arts, the publisher of games like "Madden," lost $82 million, 20 cents per share, for the October-December period. In the same period a year earlier it lost $641 million, $2 per share.

Revenue fell 25 percent to $1.24 billion.

Accounting for deferred revenue in games with online components, EA earned 33 cents per share, down from 56 cents per share a year earlier. Analysts, who had recently lowered their forecasts, were expecting 31 cents, according to Thomson Reuters.

But the company's profit and revenue forecasts were below expectations. EA shares were down $1.36, 7.8 percent, to $16.13 in extended trading.