THQ Has "Challenging" 2009, Loses $431.1 Million

Publisher THQ announced its quarterly and annual earnings today, pulling in $US830 million worth of revenue last year. That's down from the $US1.03 billion the company made during its fiscal 2008, leading to substantial losses.

THQ saw a fiscal 2009 deficit of $US431.1 million, losses way, way up from the $US35.3 million the company lost in 2008. Some of that net loss is due to the company's restructuring (read: laying off hundreds, cancelling games and closing down facilities), while some may simply be due to lowered revenue.

The publisher announced earlier this year that it was shaving off some $US220 million in spending, leading to cutbacks of 600 employees and the shedding of studios like Big Huge Games.

For the quarter ending March 31st, THQ saw $US170.3 million in sales, losing $US96.9 million. It pointed to sales of WWE Legends of Wrestlemania and Warhammer 40,000 Dawn of War II as key drivers.


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