(Reuters) – Take-Two, the publisher of “Grand Theft Auto”, announced Monday that Interactive Software (NASDAQ: Interactive Software) has become the most recent U.S.-based gaming company to predict annual sales lower than estimates. This is because demand begins to slow in a post-pandemic era.

As sales fall from the dizzying levels reached during lockdowns, it is expected that there will be a decline in social life and smaller gaming titles.

Rivals Electronic Art (NASDAQ:), and Activision Blizzard(NASDAQ:), also had weak quarters, while Roblox Corp predicted net losses for “foreseeable future”.

Take-Two released a statement saying that the “return to normalcy” will continue to unfold. The impact of this on business operations, financial results, and our business will be affected by many factors we cannot predict.

According to data from Refinitiv, Take-Two anticipates an adjusted revenue of between $3.75 billion and $3.85 billion for the entire year. Analysts were anticipating $3.96 billion.

Company’s first quarter adjusted sales forecast of $700m to $750m was also below the estimates of $777.9million.

The company’s acquisition of Zynga, a maker of Farmville, and interest costs associated with the transaction, were not included in the projections. These deals are expected to be completed in May.

The quarterly net bookings, which are the sales of products or services online and in store, rose by 8% due to top titles such as “NBA 2K22,” “GTA V”, and the brand new “WWE 2K22”, however the number still falls short of the estimates.

Take-Two lost $110.97million in net income during the fourth quarter ending March 31st, compared to $218.81million a year ago.

It earned $1.09 per Share, which beat estimates of $1.04/share.

Extended trading saw shares of the company rise 2.5%

On Monday morning, Saudi Arabia’s Public Investment Fund announced in a filing that its Take-Two stake more than doubled during the third quarter.