THQ Reports Massive Financial Losses

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THQTHQ reported its financial results for its fiscal year and fourth quarter ended March 31, 2011. Read on for more details...
For the financial year ended March 31, 2011, THQ reported a net loss of $136.098 million, compared to a net loss of $9.017 million in the previous year. For the fourth quarter, THQ reported a net loss of $44.056 million compared to a net loss of $12.285 million for the same quarter in the previous year.

Interestingly, THQ President and CEO Brian Farrell offered the following quotation: "THQ posted strong fourth quarter results primarily driven by the success of Homefront." We're somehow missing how such a large loss can somehow seem like "strong results." THQ did suggest that it will bring the uDraw GameTablet to the Xbox 360 and PlayStation, and is looking forward to several releases later this year, but didn't clarify the reason for the lower results. Based on the financial details published, we can only assume that the massively lower sales resulted in poor profits.

THQ also announced that it has named Angela Emery as the Vice President of Corporate Communications. Emery comes from Disney Interactive Studios where she served as a Vice President.

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