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THQ Slims Losses, Declares Victory
When is losing $9 million over the course of a year good news? Pretty much only when you lost $430 million the previous year. THQ recently published updated financials for its fiscal 2010, and though revenues were up only eight percent to $899.1 million, the publisher slashed enough costs (and sadly jobs) to bring it closer to black ink.
THQ also improved its market share in fiscal 2010, citing a 4.9% U.S. share and 4.4% worldwide, which make it the fourth-largest third-party publisher.
The company's titles were received better critically as well, scoring an average Metacritic rating of 82, up from 80 the year before and 72 two years ago. Strong performances by Darksiders, UFC Undisputed 2009, and Red Faction: Guerrilla helped, and are doubly valuable to the company in creating new IPs (or refurbishing a shelved one, in Red Faction's case) that can be expanded on in the future.
We've been impressed with the publisher's turnaround from strictly a game quality standpoint. Hopefully the good news keeps coming for THQ, and more people figure out that you can make money by making good games, not just by beating existing (or purchased) franchises to death.
Source: GamePro
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