Shares of THQ Inc. plunged 27 percent on Thursday, a day after the video game publisher reported a second-quarter net loss, cut its full-year earnings estimate and announced a restructuring that will result in 250 layoffs.

Agoura Hills-based THQ said after Wednesday’s market close that it will delay release of new key titles until next fiscal year, cancel several titles in development, close five studios and cut staff by 17 percent. It also will streamline its corporate organization and focus on releasing “fewer, higher quality titles.”

The company reported a net loss of $115 million ($1.73 per share), compared with $7 million (11 cents) a year ago. Adjusting for one-time items, company reported a net loss of $30.4 million (46 cents) due to lower-than-anticipated international sales of its animated film tie-in game “WALL-E” and higher-than-expected sales returns and allowances from retailers.

The company adjusted quarterly expectations for the rest of the year due to the restructuring, which would leave it with a full-year loss of $2.14 per share. In July, THQ forecast full-year net income of 80 cents to 90 cents; analysts have been expecting net income of 68 cents per share.

The company’s shares were down $1.78 to $4.77 in morning trading on the Nasdaq.