Midway Posts Massive Loss, Sales Driven by PS3

May 6th, 2008 by Rajiv Ashrafi in Business, News, PlayStation 3

Constantly struggling publisher Midway has posted the results of their first quarter for the 2008 fiscal year, revealing a total loss of $34 million. Surprisingly, the company actually outperformed itself, noting that it raked in $29.9 million in revenue, a figure that actually surpassed their expectations of $28 million. The company has not posted a profit since 1999.

Out of this revenue, a total of 45.8% was attributed to the sales of PS3 games, including Unreal Tournament 3. Wii games accounted for 36% of revenue, with Xbox 360 and PC astonishingly pulling in 5.7% and 2.8%, respectively.

Midway remains optimistic, however, hoping that its 2008 lineup will perform better. The lineup consists of Mortal Kombat vs. DC Universe, This is Vegas, Wheelman and the Xbox 360 version of Unreal Tournament 3.

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