Earnings: THQ's Losses Grow; Revenues Miss Consensus; More Layoffs

This story was written by Tameka Kee.
Analysts are split on whether THQ (NSDQ: THQI) is ready to rebound, or still in declinebut the game publisher posted a $191.8 million net loss for Q4. That's down $2.86 per share, in contrast to the previous year's profit of $15.5 million and EPS of $0.23. Non-GAAP numbers were no better: a net loss of $9.6 million, or $0.14 per share in Q4, compared to a $26.4 million, $0.24 per share profit the previous year.

Revenues miss expectations: Like EA, holiday sales didn't pump up THQ's revenues as much as the company (or the Street) thought they would: revenues came in at $357.3 million, down almost 30 percent from $509.6 million in Q407. Wedbush Morgan analyst Michael Pachter had rated the company's stock a "Buy" yesterday, based on the consensus that revenues would come in at about $420 million, per GamesIndustry.biz.

More to come.

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By Tameka Kee
  • CBSNews

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