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Thursday, Mar 28, 2024

THQ Turns Up 3Q Profit

Spurred by strong sales of its new “Company of Heroes” and “Saints Row” games, video game publisher THQ, Inc. posted a $12 million net income for the third quarter, the company announced Friday. The Agoura Hills-based company reported net income of $12.6 million, or $0.19 per diluted share, on revenues of $240 million for the quarter ending Sept. 30. For the same reporting period in 2005, the company had a net loss of $1.4 million, or $0.02 loss per diluted share, on revenues of $143 million. The second quarter results demonstrate the power of a balanced mix of owned properties and games based on world-class brands, said THQ President and Chief Executive Officer Brian Farrell. The company shipped more than 1 million units for its “Saints Row” game for the Xbox 360 during the quarter, and “Company of Heroes” was the number one PC title by value in September according to The NPD Group. “We have established two significant new franchises that we view as important pillars of our growth for many years to come,” Farrell said.

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