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: GamePolitics.com

THQ Posts Record Loss

By james_fudge

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THQ recorded a major loss and saw its revenues fall in the third-quarter as consumers spent less on its video games during the holiday shopping season. The company posted a net loss of $14.9 million, compared with a profit of $542 million in the same period a year ago. THQ's revenue fell 11 percent to $314.6 million from $356.9 million a year earlier.

Still, the company tried to put a brave face on the discouraging revenue numbers.

"We posted a strong holiday quarter led by our new uDraw GameTablet, which shipped 1.2 million units. This owned intellectual property provides THQ with a new growth opportunity focused on innovative and creative game play," said THQ President and CEO Brian Farrell. "Our fiscal fourth quarter continues our robust release schedule of high quality, high profile games including Homefront, WWE All Stars, and de Blob 2." Read More

read more

Full post as published by GamePolitics.com on February 03, 2011 (boomark / email).

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