to join the CVG community. Not a member yet? Join now!
CVG
News

THQ reports £9 million loss, cancels online titles

Free-to-play games Company of Heroes Online and WWE Online scrapped

THQ has cancelled a number of online projects and reported a disappointing set of financial results for the third quarter ended December 31, 2010.

The firm has scrapped free-to-play games Company of Heroes Online and the unreleased WWE Online, according to ShackNews.

Zoom

The announcements were made as the publisher swung from a quarterly profit of $542,000 a year earlier to a loss of $14.9 million (£9.2m). Sales were also down from $356.7 million to $314.6 million (£194m).

THQ CEO Brian Farrell said: "We posted a strong holiday quarter led by our new uDraw GameTablet, which shipped 1.2 million units. This owned intellectual property provides THQ with a new growth opportunity focused on innovative and creative game play.

"Our fiscal fourth quarter continues our robust release schedule of high quality, high profile games including Homefront, WWE All Stars, and de Blob 2."

Farrell added: "THQ is poised for significant net sales and earnings growth in fiscal 2012 as a result of aggressive investment in owned intellectual properties and major franchises, a lean cost structure, and growing digital revenues.

"Fiscal 2012 will be driven by the strongest core games line-up in our history, including: Red Faction Armageddon, Warhammer 40,000 Space Marine, MX vs. ATV Alive and the newest installment of our Saints Row franchise."

[ SOURCE: ShackNews ]

Comments