THQ Doubles Second Quarter Net Loss

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THQTHQ has reported on the results of its fiscal second quarter ended September 30, 2011. Read on for more details....
For its fiscal second quarter ended September 30, 2011, THQ reported a net loss of $92.385 million, compared to a net loss of $46.985 million in the same quarter the previous year. THQ tried to put a positive spin on the announcement. Despite the fact that THQ's net loss approximately doubled, THQ's President and Chief Executive Officer Brian Farrell said, "We are encouraged that our second quarter performance exceeded expectations..."


In other words, THQ thought things would suck even more. THQ's operating expenses appeared to jump enormously. Much of this appears to relate to "business realignment expenses" (in the form of severance pay, contract termination costs, lease termination costs and write-offs).

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This page contains a single entry by Editor published on November 2, 2011 4:35 PM.

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