Good news, THQ made a profit in the last quarter

by Ben Salter Featured 2 Comments 17 Votes 1522 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

Favourite 2014 game so far?

Favourite 2014 game so far?

19/06/2014 Polls 22 31
5 Bullshit characters that should be in Smash Bros

5 Bullshit characters that should be in Smash Bros

PaulV 11 hours Articles 12 9
Mad man speed runs Ocarina of Time in 18 minutes

Mad man speed runs Ocarina of Time in 18 minutes

Gryllis 1 day News 1 7
UK pirates get warnings for illegal downloads in 2015

UK pirates get warnings for illegal downloads in 2015

Gryllis 1 day News 8 9
FIFA 15 trailer gets intensely emotional
Gryllis 3 days News 3 7
Friendly Fire Show 63: It is Thor Destiny

Friendly Fire Show 63: It is Thor Destiny

Podcast 3 days Articles 0 18
Friendly Fire Show 62: The Kim Kardashian Special

Friendly Fire Show 62: The Kim Kardashian Special

Podcast 6 days Articles 1 14
Sega still open to releasing games on Wii U VC

Sega still open to releasing games on Wii U VC

Gryllis 16/07 News 3 6
PS4 remakes welcome back Wii gamers to PlayStation

PS4 remakes welcome back Wii gamers to PlayStation

Gryllis 16/07 News 10 14

Community Content

A New Era For MMGN: Our New HQ

A New Era For MMGN: Our New HQ

23/06/2014 Blog 16 1

MMGN Updates

Status
Updating..
Username

ravibabson shared a story - ravi namboori babson

ravibabson 8 hours ago
Username

ravibabson is now Level 3!

ravibabson 8 hours ago
Username

1wiierdguy is now Level 19!

1wiierdguy 9 hours ago
Username

chris991 is selling - GTA V PS3

chris991 19 hours ago
Username

chris991 just unlocked the Convincing Salesman achievement!

chris991 19 hours ago
Username

commented on FIFA 15 trailer gets intensely emotional

stonecold 1 day ago
Username

commented on What makes Destiny so compelling?

stonecold 1 day ago