Midway Loses $US76 Million, Hopes For Great MK vs. DCU Success

Chicago-based developer Midway announced its third quarter earnings today, pulling in $US51.4 million in revenue. That’s better than the $US36.7 million it did the year prior and thankfully in line with expectations. The bad news — oh, there’s bad news, naturally — is that Midway took a loss of $US75.9 million, with losses planned to continue for the year. That’s worse than the quarter before and the year prior, for those who like to keep track of such things.

The majority of Midway’s earnings came from the Xbox 360, on which it released Unreal Tournament III and TNA iMPACT! (emphasis Midway’s). The quarter’s second biggest earner, Nintendo’s Wii, has given Midway the most money for the full year, with almost $US30 million YTD in revenue.

Unsurprisingly, Midway is pinning its hopes on the upcoming Mortal Kombat vs. DC Universe to help pull it out of its financial funk next quarter. Midway CEO Matt Booty said something about “align” and “brand” and Mortal Kombat but we can’t recall it all because we started thinking how Booty is a funny name.

MIDWAY REPORTS 2008 Q3 RESULTS (PDF) [Midway]