THQ Posts High Quarterly Earnings
Following quickly on the heels of EA's record announcement today, THQ also set some new quarterly records.
Citing solid sales of the GTA-inspired Xbox 360 title, Saints Row and the PC RTS Company of Heroes, THQ enjoyed a 68% leap in total revenue to $240.2 million, up from the reported $142.7 million during last year's second quarter. Continued good sales of Disney-Pixar's Cars also contributed to the revenue spike.
The big publisher netted $12.6 million in profit, which is a huge turnaround from the $1.4 million the company actually lost in 2005's second quarter. That quarter was forced to rely on its "big sellers," which were Destroy All Humans!, Juiced, and Reckoning 2.
CEO Brian Farrell commented on the great success of Saints Row and Company of Heroes to investors and analysts during a conference call (THQ owns the intellectual properties on which those games are based). Farrell finished by saying the company "plans to leverage and extend those brands for many years to come."
11/3/2006 Ben Dutka