February 5, 2009
THQ Inc., publisher of the WWE wrestling and Wall-E video games, posted a $191.8-million fiscal third-quarter loss and said it would eliminate almost a quarter of its staff. The net loss for the period ended Dec. 31 was $2.86 a share, reflecting a $118-million write-down of acquired assets, THQ said. The loss compares with net income of $15.5 million, or 23 cents, a year earlier. Sales fell 30% to $357 million. THQ has posted losses in five of the last six quarters as the company has struggled to find hits.
November 6, 2008 |
The video game industry's rising tide has not lifted all boats. Activision Blizzard Inc. on Wednesday posted a doubling of quarterly revenue and predicted strong holiday sales. But THQ Inc., whose games have failed to connect with players recently, said it would slash 250 jobs, or 17% of its developers, as it cancels projects and closes five development studios across the country.
July 31, 2008 |
Video game publisher THQ Inc. of Agoura Hills reported a wider fiscal first-quarter loss as it spent more to develop games such as Saints Row 2 and lowered its annual sales and profit forecasts. THQ lost $27.2 million, or 41 cents a share, compared with a loss of $9.27 million, or 14 cents, a year earlier. Excluding some costs, the loss was 38 cents a share, beating the 39-cent average of analysts' estimates compiled by Bloomberg. Sales in the period ended June 30 rose 32% to $137.
February 28, 2008 |
THQ Inc. said the U.S. Securities and Exchange Commission doesn't plan to recommend any action against the video-game publisher related to a stock options probe. The SEC's investigation into the Agoura Hills-based company's practices in granting stock options has been completed, THQ said.
February 6, 2008 |
THQ Inc. didn't share much of the video game industry's holiday joy, reporting a 75% drop in fiscal third-quarter profit Tuesday. Hurt by lagging sales of two high-profile titles and underperforming projects that were canceled, the Calabasas-based game publisher posted sales of $509.6 million in the quarter ended Dec. 31, up 7% from a year earlier. Net income tumbled to $15.5 million, or 23 cents a share, from $62.1 million, or 91 cents, a year earlier.
January 25, 2008 |
Shares of THQ Inc., the third-largest U.S. video-game publisher, had their biggest drop in more than five years in Nasdaq trading after lowering its forecast for sales this quarter and predicting a loss. THQ fell $5.60, or 22%, to $19.50. Sales will be $200 million in the three months ending March 31, less than the previous forecast of $240 million, the Agoura Hills-based company said. It expects a loss of 13 cents a share. THQ is closing its Concrete Games studio and canceling some titles, including a version of "Destroy All Humans!"