Gears of War: Judgment and God of War: Ascension both performed poorly through March according to a new report from market analysts Cowen & Company.

GI.biz reports that he firm’s latest investor note pegs Judgment’s March sales at 425,000 units, compared to first-month sales of Gears of War 3 at over 2 million copies when it launched in September 2011.

The same trend applies to God of War: Ascension, which shifted 360,000 units through March, which is a large drop compared to first-month sales of God of War 3 at 1.1 million in March 2010.

Cowen & Company’s report says of the slump, “We had expected sales trends to improve in March due to a strong core line-up. Two historically strong franchises appear to have significantly underperformed.”

It’s not just software taking a hit either, as the report predicts that the NPD’s next report will announce that cboth consoles and handhelds were down 21% over the same period in 2011, and that physical software sales have dropped by 17%.

However, the news isn’t all bad, as the NPD is also predicted to announce a 66% in PC software sales, as bolstered by SimCity and StarCraft 2: Heart of the Swarm. Elsewhere, Cowan & Company’s report adds that 696,000 copies of Tomb Raider were sold in 33 days Stateside, and that 665,000 copies of Bioshock Infinite were sold across the US in just 10 days.

Let us know what you make of the figures below.