Good news, THQ made a profit in the last quarter

by Ben Salter Featured 2 Comments 17 Votes 1609 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

Games of October: Your most wanted

Games of October: Your most wanted

06/10/2014 Polls 9 17
PAX Australia 2014 Playable Games Guide

PAX Australia 2014 Playable Games Guide

Gryllis 22 hours Articles 2 27
Horror games for Halloween: What are your favourites?

Horror games for Halloween: What are your favourites?

Tano 1 day Articles 2 5
More women play role-playing, PC games than men

More women play role-playing, PC games than men

Tano 1 day News 4 8
Friendly Fire Show 73: Canadian Porn

Friendly Fire Show 73: Canadian Porn

Podcast 3 days Articles 2 3
Dev threatens Gaben and gets game taken down

Dev threatens Gaben and gets game taken down

maxiboy 24/10 News 5 6
Yeah, science! First-person shooters boost sensorimotor skills

Yeah, science! First-person shooters boost sensorimotor skills

Tano 22/10 News 2 4
Skylanders Trap Team review

Skylanders Trap Team review

Gryllis 20/10 Reviews 2 3
Friendly Fire Show 72: That's the joke

Friendly Fire Show 72: That's the joke

Podcast 20/10 Articles 1 4

Community Content

Dev threatens Gaben and gets game taken down

Dev threatens Gaben and gets game taken down

maxiboy 24/10 News 5 6
Awesome Gaming Stuff Of Tomorrow, Today! Vol. 3

Awesome Gaming Stuff Of Tomorrow, Today! Vol. 3

02/09/2014 Blog 10 0

MMGN Updates

Status
Updating..
Username

commented on Call of Duty: Advanced Warfare goes live action

maxiboy 5 hours ago
Username

commented on The Crew PS4, Xbox One beta begins in November

Stu 7005 8 hours ago
Username

commented on Your most wanted game of November?

KezDaMuss 16 hours ago
Username

commented on Sword Art Online II

fiolee115 20 hours ago
Username

commented on PlayStation Plus November free games revealed

CybaCowboy 1 day ago
Username

commented on Your most wanted game of November?

SlappyWag 1 day ago