Midway posts Q1 loss

But the report was better than analysts expected

Midway Games posted a first-quarter loss Monday that was better than what Wall Street analysts expected, but the video game company guided its second quarter down.

Midway shares, off 3.3% during the regular session to $2.34, sunk more than 8% in after-hours trading.

Midway's loss widened from a $19.8 million loss a year ago to $34 million. For the second quarter, Midway expects revenue of about $18 million; analysts expected $41.6 million.