Good news, THQ made a profit in the last quarter

by Ben Salter Featured 2 Comments 17 Votes 1635 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
MMGN Game Of The Year 2014 voting now open

MMGN Game Of The Year 2014 voting now open

Tano 2 days News 3 24
Friendly Fire Show 80: GOTY extravaganza!

Friendly Fire Show 80: GOTY extravaganza!

Podcast 5 days Articles 2 3
11 Hilarious Chinese game console rip-offs

11 Hilarious Chinese game console rip-offs

Gryllis 12/12 Articles 26 56
I'm 27 years old and I have a serious Amiibo addiction

I'm 27 years old and I have a serious Amiibo addiction

Jickle 08/12 Articles 8 10
Dating a non-gamer: Steps to get them addicted

Dating a non-gamer: Steps to get them addicted

Jayden27 03/12 Articles 17 18
Disney Infinity Star Wars: Survey hints at The Force
Tano 02/12 News 2 6
PAX Aus 2015 tickets now on sale
Tano 02/12 News 0 4

Community Content

Awesome Gaming Stuff Of Tomorrow, Today! Vol. 3

Awesome Gaming Stuff Of Tomorrow, Today! Vol. 3

02/09/2014 Blog 11 0

MMGN Updates

Status
Updating..
Username

W84NO1, master911, kashinator, Enarium commented on Win a Sony Mobile Prize Pack! Including an Xperia Z3, PlayStation 4 and Game Cave

W84NO1 13 hours ago
Username

kashinator is now Level 3!

kashinator 16 hours ago
Username

zurczner, whaling commented on Minecraft: Story Mode coming from Telltale Games

zurczner 1 day ago
Username

commented on Mario penguins can't fly

vietnhamit 1 day ago
Username

DPkrass, Jade829, whaling and other 2 users commented on Win a Sony Mobile Prize Pack! Including an Xperia Z3, PlayStation 4 and Game Cave

DPkrass 1 day ago
Username

commented on Super Mario Themed Fish Tank Background

vietnhamit 1 day ago
Username

Arnold114, patjackman, purplesp8y and other 4 users commented on Win a Sony Mobile Prize Pack! Including an Xperia Z3, PlayStation 4 and Game Cave

Arnold114 1 day ago