Quick Jump Daily Digest
Thank you for your interest in the Quick Jump Daily Digest. Get notified of all new content on QJ in our free Daily Digest. To subscribe, enter your email address below and click the subscribe button.
THQ posts big earnings, bigger losses |
Listed in: Wii, PS3, Nintendo DS, Xbox 360, PC Gaming Tags: Brian Farrell, Pixar, THQ
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
| This story sucks? This story rocks! |
|
|












