THQ Posts $35m Loss, Sales Led by PS2

May 7th, 2008 by Rajiv Ashrafi in Business, News, PlayStation 2

thq Following huge losses of Midway, publisher THQ today posted a net loss of $35.3 million for its 2008 fiscal year, which concluded on March 31. The company attributes most of its loss to its fourth quarter, where it lost $34.5 million due to lower-than-expected sales of previously released games.

“In fiscal 2008, we did not achieve our revenue and profit targets and we are taking aggressive steps to ensure that we significantly improve execution in fiscal 2009 and beyond,” said THQ president and CEO Brian Farrell.

Despite all that, the company raked in $1.3 billion in revenue, revealing that the PS2 led a quarter of its sales, with the DS games bringing in 22% of the revenue. Xbox 360 and PC brought in 12.6% and 9.1%, respectively, with Wii representing 8.9% and PS3 coming in last at 8.3%.

THQ hopes that its 2009 lineup will bring in better revenue. It currently has Saints Row 2, Red Faction Guerilla, WWE Legends of Wrestlemania and many other titles slated for release.

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Tags: Business, News, PlayStation 2


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One Response to “THQ Posts $35m Loss, Sales Led by PS2”

  1. THQ Cutting 200 : DigitalBattle Says:
    May 8th, 2008 at 12:09 pm

    [...] reported earlier, the company posted a net loss of $35 million at a conference call. This was attributed to [...]

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