THQ Reports Dreadful First Quarter Results

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THQTHQ reported its financial results for its fiscal first quarter ended June 30, 2011. THQ suffered from disappointing sales and mediocre-quality games, but read on for more details...
For the fiscal first quarter ended June 30, 2011, THQ reported a net loss of $38.445 million, compared to a net loss in the comparable quarter the previous year of $30.100 million. THQ partially attributed its poor performance to disappointing sales of Red Faction: Armageddon and the fact that UFC Personal Trainer was released later in the quarter than planned. It's also possible the dog simply ate THQ's homework. Either way, THQ is convinced (or at least trying to convince investors) that this holiday season will be great.

Based on the company's call with investors, it sounds as if the recently released Red Faction: Armageddon game will be the last in the franchise. Apparently, THQ no longer considers the franchise to have blockbuster potential, and therefore doesn't plan to pursue the series. Apparently, THQ is disappointed in the critical reaction to its recent games, and vows to do better... or at least not to let the dog eat its homework.

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This page contains a single entry by Editor published on July 27, 2011 9:06 PM.

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