THQ Reports Loss of $136.1 Million for Last Financial Year

A Bad Year for The Floundering Homefront Publisher

It was doom and gloom for THQ and its investors yesterday, as the videogame publishing giant reported that it had made a considerable loss of $136.1 million USD for the last financial year. To put it into perspective, that’s over 15 times what the company lost last year. Evidently, 2011 is proving a difficult year for the publisher.

However, there were some successes to call home about. Homefront, THQ’s biggest release of the last financial year, managed to sell 2.6 million copies, which is pretty impressive considering the mixed reception it got from critics. According to the product highlights section of the release, Homefront was, and remains, “the best-selling week-one new console release in 2011 in the UK”. Not bad for a game that initially caused the company’s share price to drop by roughly 25 percent.

Another surprise hit was the uDraw tablet for Wii, which shifted an astonishing 1.7 million units. CEO Brian Farrell also announced that the handy little graphics tablet would be making its way to Xbox 360 and PlayStation 3 later this year.

Furthermore, there are some promising THQ titles on the horizon, which could potentially turn the company’s bad fortunes around. In particular, new installments in the Saints Row and Red Faction franchises look set to pull in a lot of cash for the industry behemoth.

Source: THQ

Share your thoughts: Why do you think THQ so massively missed the mark this year? Poor releases? Bad marketing? Moreover, which THQ games are you most looking forward to this year and why? Pop your thoughts down in the comments section below.

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