Good news, THQ made a profit in the last quarter

by Ben Salter Featured 2 Comments 17 Votes 1684 Views 07/08/2012 Back to News

THQ, the publisher desperate to shake the "struggling" tag that has been shadowing it for the past 12 months, took a giant step forward today by announcing a USD $15.4 million profit for the April-June quarter.

It's a total revelation compared to the USD $38.5 million loss it posted during the same period last year, and suggests its fortunes may be about to turn.

However, THQ isn't in the clear yet. Much of the profit has been generated by severe cost-cutting. It spent just USD $38.5 million during the quarter, just half of the USD $67 million spent in the corresponding period last year.

Operating expenses were cut by closing studios, downsizing, reduced marketing, and cancelling a number of games to focus on its core franchises.

It also had to issue a reverse float to keep its stock valued over $1 on the US NASDAQ stock exchange to consolidate every ten shares into just one.

Nevertheless, a profit can only be good news.

By Ben Salter

Link to us http://wii.mmgn.com/News/good-news-thq-made-a-profit-in-the-last
Vote for this article Log in with Facebook

Good news, THQ made a profit in the last quarter Comments

Leave a comment Log in with Facebook
not hard when you don't spend any money on game development =/

Marge said: not hard when you don't spend any money on game development =/



Definition of burned right here!

Post a comment

Leave a comment Log in with Facebook

Recently Read

Featured Wii Content

Most Anticipated July Game

Most Anticipated July Game

26/06/2015 Polls 2 5
Sega feels like it's betrayed older fans from the '90s

Sega feels like it's betrayed older fans from the '90s

Tano 5 hours News 5 4
Violent games and feeling sexy: There's a correlation

Violent games and feeling sexy: There's a correlation

Tano 1 day News 1 6
Microsoft 'completely discounted Nintendo'

Microsoft 'completely discounted Nintendo'

Tano 1 day News 2 3
Friendly Fire Show 100: Vegas, baby!

Friendly Fire Show 100: Vegas, baby!

Gryllis 5 days Articles 0 3
Big games of July

Big games of July

Tano 26/06 Articles 12 8
Super Mario World beaten blindfolded in 23 minutes
Tano 25/06 News 0 1
The Best and Worst of E3 2015

The Best and Worst of E3 2015

Gryllano 23/06 Articles 2 6
E3 2015 - MMGN Hub

E3 2015 - MMGN Hub

Tano 19/06 Articles 10 12

Community Content

Wii U - 2, MMGN - 0

Wii U - 2, MMGN - 0

01/05/2015 Blog 14 1

MMGN Updates

Status
Updating..
Username

commented on Monsters: Dark Continent giveaway

A2ra3l 1 hour ago
Username

commented on Fallout 4 mods are already in the works

maxiboy 1 hour ago
Username

Tano made a change to MMGN Staff

Tano 1 hour ago
Username

Tano made a change to Gaetano Prestia

Tano 1 hour ago
Username

Tano, maxiboy commented on Xbox Music, Xbox Video get rebranded and renamed

Tano 2 hours ago
Username

zurczner, PsFan commented on This trailer might persuade you to turn Predator in Mortal Kombat X

zurczner 9 hours ago