THQ reveals $56 million loss in Q3
THQ has announced a $56 million loss for the quarter ending December 31, 2011, almost triple the loss of the same period last year. Sales also dropped from $314.6 million to $305.4 million. Despite game success with WWE ’12 and Saints Row: The Third, the discontinued uDraw is taking the majority of the blame for THQ’s situation.
THQ CEO Brian Farrell said: ”Revenues were lower by about $100 million, we’ve got 1.4 million [uDraw units] still in inventory we haven’t sold that we planned on selling.” Farrell estimates that about $80 million of the lost revenue was from units the company didn’t manage to sell, and the other $20 million fro lowering the price of the units sold. He also added that: ”[THQ] would have doubled the profitability in the quarter were it not for uDraw.”
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