THQ Reports Massive Loss Thanks to Future Games Based on Kids' Movies

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THQTHQ reported its financial results for its fiscal third quarter ended December 31, 2010. Read on for more details...
For the quarter ended December 31, 2010, THQ reported a net loss of $14.947 million, compared to net income of $542,000 in the same quarter the previous year.

Despite the large net loss, THQ put a positive spin on its results, focusing on the success of its uDraw GameTablet (it shipped 1.2 million units). The large loss comes from THQ acknowledging an impairment of $30.3 million related to kids'-movie licensed games scheduled for future release. THQ would prefer to pretend this write-off doesn't exist and so is crowing about the company's successful results (or at least what the results would look like if there wasn't such a colossal impairment).

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This page contains a single entry by Editor published on February 2, 2011 8:47 PM.

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