THQ narrows 3Q loss as it lowers costs
AGOURA HILLS, Calif. (AP) - Video game maker THQ Inc. said it
lost less in the third quarter than it did a year earlier even as
sales fell because it lowered its operating costs, sending its
shares higher in aftermarket trading.
THQ makes games such as WWE SmackDown vs. Raw 2010, SpongeBob
Truth or Square, and All Star Cheer Squad for the Microsoft XBox,
Nintendo Wii and Sony Playstation.
The company, based in Agoura Hills, lost $5.6 million, or 8
cents per share, in the quarter that ended Sept. 30. That compares
to a loss of $115.3 million, or $1.73 per share, a year earlier.
NASDAQ:THQI Updated: 16:00 ET 5.03 +0.11 |
THQ said that excluding certain one-time charges, it lost 37
cents per share, beating a consensus prediction of analysts polled
by Thomson Reuters for a 48 cent per share loss.
Revenue fell 39 percent to $101.3 million from $164.8 million.
Analysts had expected $92.2 million.
THQ shares rose 48 cents, or 10 percent, to $5.50 in after-hours
trading after closing Wednesday at $5.02, up 2 cents from a day
earlier.
11/04/09 17:28
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