THQ posts better-than-expected results thanks to Darksiders
- — 06 May, 2010 08:32
THQ revealed higher-than-expected fourth quarter profits for fiscal year 2010, but posted a lower-than-expected profit outlook for 2011. Darksiders and Metro 2033 drove sales.
Revenue for fiscal year 2010 (ended March 31) is at 197.7 million, which tops the $179.5 million Wall Street estimated for the company, and net loss shrank from last year's $96.9 million to $10.4 million. For fiscal year 2011, THQ takes a cautious approach as the company struggles to recover along with the rest of the economy.
THQ name-dropped Darksiders and Metro 2033 as well as the Red Faction and UFC franchises as the big sellers for this quarter. Interestingly, THQ said it had low expectations for Metro 2033, but turned a profit on the game because it was a high quality experience produced at a low cost.
Going forward, THQ plans to punch up its core games and expand its family and casual games market. Expect sequels and Facebook games in THQ's near future.
