Video game makers make most of their money in the December quarter, when they release their most important games.
The company now expects third quarter sales to be in the range of $382.5 million to $412.5 million. It previously expected sales to be $510 million to $550 million in the quarter.
Analysts on average are expecting sales of $529.43 million in the quarter, according to Thomson Reuters I/B/E/S.
The company blamed weaker-than-expected initial sales of the uDraw tablet it had made for Microsoft's
Chief Executive Brian Farrell said in a statement that its two new games WWE '12 and Saints Row would perform better than the company had anticipated on its last earnings conference call.
THQ shares fell 18 percent in after-hours trading. Earlier, they closed nearly 11 percent, or 18 cents, lower at $1.46 per share on Nasdaq on Friday.
(Reporting By Liana B. Baker)