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Tuesday, Dec 6, 2022
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Gaming Firm Continues Struggles

Video game publisher THQ Inc. continued its financial struggles into the first quarter by widening its net loss compared to the previous year. The Agoura Hills-based company took steps to realign its cost structure and generate growth at both the top and bottom lines, said President and CEO Brian Farrell. For the first quarter ending June 30, THQ reported a net loss of $27.2 million, or $0.41 per diluted share, on revenues of $137.6 million. For the same period a year ago, the company reported a net loss of $9.3 million, or $0.14 per diluted share, on revenues of $104.5 million. During the quarter, the company shipped more than one million units of games based on Disney/Pixar’s WALL-E, and announced licensing deals with Marvel Entertainment and DreamWorks Animation.

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