THQ Loses $55.9m in the Dec 2011 Quarter - News
by VGChartz Staff , posted on 02 February 2012 / 3,602 Views
THQ, in light of all the rumors surrounding its troubles, has announced its financial results for the December 2011 quarter. On a GAAP basis, the company lost $55.9m in the quarter, on revenue of $305.4m. THQ had already lost over $130m on a GAAP basis from April to September 2011. On a non-GAAP basis THQ did profit $24m for the quarter on revenue of $404.4m as the non-GAAP figures did not include defered revenue.
THQ says:
- WWE shipments are over 2m to date, up 29% from last year.
- Saints Row shipments are 3.8m, including 3.6m in the December quarter - the game will reach 5-6m eventually and is THQ's biggest owned IP.
- THQ was the 5th biggest US publisher (behind Nintendo and four third parties) in 2011 with 5.4% market share, up 16% from 2010, on increased X360 & PS3 game sales.
- Digital revenue in the December 2011 quarter doubled that of the December 2010 quarter.
- Due to the changing nature of the video game business, THQ is exiting the kids licensed console game business, including Udraw (which was responsible for the lousy results by flopping on X360 and PS3)
The company also provided a breakdown of game revenue for the quarter:
- X360 revenue grew to $161.88m in the December 2011 quarter from $49.42m in the December 2010 quarter. PS3 revenue grew to $114.63m from $44.87m over the same time frame. PC revenue also grew to $19.23m from $10.40m.
- Wii revenue fell sharply to $63.22m in the December 2011 quarter from $141.42m in the Dec 2010 quarter without a Udraw level hit in 2011, while DS fell to $42.16m from $48.99m. PSP collapsed to $2.23m from $13.08m in the same time frame, as did PS2 which declined to $648,000 from $13.23m. Wireless revenue also fell from $1.70m to $356,000.
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