THQ posts big earnings, bigger losses |
Ó
While most publishers in the video game industry are reporting decent to good earnings in Q1 of 2008, the story is a bit different for THQ as it dipped well into the red zone with triple the losses it incurred in the same period last year.
THQ finished the quarter with US$ 137.6 million, US$ 33.1 million better than last year's total. A lot of this can be credited to multiplatform hit WALL-E which was developed in cooperation with Pixar. The IP sold over a million copies despite lukewarm critical reactions.
As good as the WALL-E efforts went, development costs sapped up the earnings and gave THQ a staggering US$ 27.2 million in deficits. This is triple of last year's losses, but THQ isn't fazed just yet.
CEO Brian Farrell said in a statement that THQ is still well on track to post earnings this year with a good number of their products still to come. Flagship franchises such as WWE Smackdown vs Raw 2009 and Saints Row 2 are waiting on the wings, and games like Red Faction Guerrilla, Darksiders: Wrath of War, and Legends of Wrestlemania are expected to do well.
THQ stands firm on its projection of US$1.15 billion to US$1.175 billion in revenues by the end of the fiscal year. We'll see if that statement can vindicate the game maker when the dust settles.
Related articles:
- Triple H, Shawn Michaels to grace WWE Smackdown vs Raw 2009 cover
- THQ explains differences between Saints Row 2 and GTA4
Contact Us:
The QJ.net Network |
 |
| Site | Feed |
| QJ.NET | RSS |
| Nintendo DS | RSS |
| PlayStation 3 | RSS |
| PSP Updates | RSS |
| Wii | RSS |
| Xbox 360 | RSS |
| MMORPG | RSS |
| Personal Computer Games | RSS |
| iPhone - iPod Touch | RSS |
| QJ.NET Forums | RSS |
Add QJ.NET
User Favorites - December
User Favorites - December
Categories
Archives
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
