RSS Feeds
industry news
Midway Loses $US 34.8 Million For The Quarter
Posted by Michael McWhertor at 7:40 AM on August 5, 2008
Midway Games announced today that it lost $US 34.8 million last quarter, which members of the financial community often refer to as "not so good". That's a considerable jump from the same quarter last year, in which Midway lost $US 14.3 million. Unless you're a Midway share holder and concerned about the loss of $US 0.38 per basic and diluted share, you're probably more interested in a screen shot of Johnny Cage trying to nut punch a baby.
So, what did Midway release in the second quarter? NBA Ballers: Chosen One for the PlayStation 3 and Xbox 360, for one thing. It also lists the European release of Unreal Tournament III for the PS3 as one of its "operating highlights".
It expects things to look a little better for the next few months, with TNA iMPACT! contributing to an estimated $US 52 million in revenue. You know, they should really put some actual T & A in that game instead of focusing on oiled-up dudes. That'd sell, like, hundreds.
Comments (AU Comments · US Comments)
There are currently no AU comments for this post.
def PD
Posted 8:26 AM 5/8/08
Midway loses.
Failality....
*sob sob sob*
def PD
ObZen
Posted 8:14 AM 5/8/08
The last great MK game.
ObZen
Savior
Posted 8:02 AM 5/8/08
damn i remember when midway would produce some entertaining games when i was a kid.. would be sad to see them fold.
I guess MK vs DC would be like... the resurrection for them maybe? who knows..
Savior
ShadowScale
Posted 8:00 AM 5/8/08
Nutpunching babys is my favorite pass time!
ShadowScale
Silent Predator
Posted 7:59 AM 5/8/08
Maybe the baby was being kind of a dick?
In all seriousness, when was the last time Midway had a good quarter? Anyone?
Silent Predator
Thorax
Posted 7:57 AM 5/8/08
FINISH THEM!
In case you are wondering, yes, I will banned for that:P
Thorax
LanciePants
Posted 7:57 AM 5/8/08
Wha-wha-WHAT?! You mean Harvey Smith's adept political commentary and genius game design didn't make Midway money. I find this hard to believe.
LanciePants
Larry Horse
Posted 7:56 AM 5/8/08
Might just be time to pack it in as rumored, Midway.
Larry Horse
D Mitsuki
Posted 7:54 AM 5/8/08
Midway, you have lost your touch, so in turn, you are losing your money.
D Mitsuki
VengefulRonin
Posted 7:50 AM 5/8/08
Ha, sucks for them. It's what they get for fucking up Mortal Kombat over the past several years.
VengefulRonin
Candlejack
Posted 7:45 AM 5/8/08
Haha. TNA. I got that. Although I don't think "Acid" sells that well. :P
Candlejack
Thugmunk
Posted 7:45 AM 5/8/08
Lol! Nutpunch..
Thugmunk
NeVeRMoRe666
Posted 7:45 AM 5/8/08
Trust me, nut punching a baby is harder than it looks...
NeVeRMoRe666
Erignamatic
Posted 7:45 AM 5/8/08
If anything, Johnny Cage looks like he's in a bit of pain in that photo.
Erignamatic
AJMarra
Posted 8:50 AM 5/8/08
Perfect picture!
AJMarra
Zootroy
Posted 8:47 AM 5/8/08
Shares drop, devs decay,
Not a word better chosen
for all games 'Midway'.
Zootroy
Señor Cagon
Posted 8:45 AM 5/8/08
Hey Midway! Sell your IP's (at least the ones you have not turned to teh suxxors which is... well almost all of them) and retire to die a slow and quiet death. It's quite embarrassing to release crap game after crap game and lose lots of money... Can you say hostile takeover of the board by shareholders?
Señor Cagon
MrDo
Posted 8:40 AM 5/8/08
Good thing I didn't take that sys admin job with them in SD recently.
MrDo
Ampillion, Dayman. Fighter of the Nightman.
Posted 8:38 AM 5/8/08
@Silent Predator: About the same decade that Midway had a decent game.
Ampillion, Dayman. Fighter of the Nightman.
twinturbo2
Posted 8:38 AM 5/8/08
Just give me downloadable versions of The Grid and the arcade version of San Francisco Rush 2049, with online multiplayer, and I'll bite. Also, give me a Wii compilation with Area 51, Area 51: Site 4, Maximum Force and CarnEvil. I'd hit that, too.
twinturbo2
Jas49
Posted 8:33 AM 5/8/08
Blame the leadership. This is true in most failures.
Jas49
gaijira
Posted 8:32 AM 5/8/08
@Silent Predator: Heh, damn beat me to it.
gaijira
gaijira
Posted 8:31 AM 5/8/08
To be fair, that baby was a real dick.
gaijira
RazorandBlade
Posted 8:59 AM 5/8/08
"not so good"?? hah If I was a stockholder and I heard that news it would be like the market crash all over again, Id be skyscraper jumping again.
@Zootroy: Haiku?! ROCK
RazorandBlade
resvrgam
Posted 9:40 AM 5/8/08
I guess this illustrates the penalty for not adapting and keeping up with the times. What sold a lot back in the 1990s, is no longer keeping the company afloat.
Here's how Darwinism in a hit-driven industry works. It looks like the herd is getting thinned soon.
resvrgam
dunetiger reads kotaku, seems pleased
Posted 9:23 AM 5/8/08
Oh man, that baby is getting PWNED!
dunetiger reads kotaku, seems pleased
GodKiller0
Posted 11:39 AM 5/8/08
I didn't know they did UT3...that was an awesome game!
GodKiller0
adrenalinq
Posted 3:46 PM 5/8/08
Maybe they should allow to buy UMK3 in XBLA in other regions?
adrenalinq
Crawl to China
Posted 12:25 AM 6/8/08
Hahahaha, excellent pic
Crawl to China
Hulkamaniac
Posted 12:29 AM 7/8/08
TNA Impact will be an awesome game brother...
Hulkamaniac