THQ is not Capcom, losses almost triple in Q1

While Capcom’s figures have been sugar and spice and all things Monster Hunter, the same cannot be said for THQ, as its losses now stand at $27 million. To its credit, WALL-E helped THQ receive $137.6 million in net earnings, $33.1 million more than last year, but mounting costs undermine the company’s success.

Blaming the losses on the price of “important improvements in our creative development organization,” THQ revealed that the substantial deficit is almost triple that of last year. 

“Our fiscal 2009 product line-up and long-term product pipeline are well-positioned to take advantage of the expanding demographic of gamers on the growing installed base of game platforms,” stated CEO Brian Farrell, with his bravest of brave faces on. “We have a robust product slate of key titles scheduled to launch in each of the next several quarters, starting with de Blob in September; Saints Row 2 and WWE SmackDown vs. Raw! 2009 in the holiday quarter; Red Faction Guerrilla, Darksiders: Wrath of War, and Legends of Wrestlemania in our fiscal fourth quarter; and UFC 2009 Undisputed in the first quarter of fiscal 2010.”

THQ has two more Disney licenses in the pipeline, and has recently signed a deal with Dreamworks Animation to base a game on its 2010 film, Mastermind.

Jim Sterling