Loss Widens for THQ in Q2

THQ Inc. executives are optimistic about the upcoming video game titles to boost sales following poor results for the second quarter. The Agoura Hills-based game publisher reported a net loss of $47 million, or $0.69 per diluted share, on revenues of $77 million for the quarter ending Sept. 30. For the same period a year ago the company had a net loss of $5.6 million, or $0.08 per diluted share, on revenues of $101.3 million. That no new major game titles were released in the quarter could have contributed to the poor earnings. THQ President and CEO Brian Farrell looks to the holiday season to brighten the company’s finances as the games that have been in development for two years will begin to hit shelves, including the latest title in the WWE Smackdown vs. Raw franchise. In the spring, the company releases “Homefront” and games from the WWE and UFC franchises. THQ is investing in its product pipeline with additional title from original franchises Saint’s Row, Red Faction and Warhammer. “We continue to execute on our strategy of integrating a digital component into all of our key franchises, including downloadable content and games on the iPhone, iPad, Facebook, Xbox LIVE Arcade and PlayStation Network,” Farrell said. Mark R. Madler