THQ Q1 profits get TKO'd ($30M in losses)

by: Ben Berry -

THQ announced it's 1st quarter sales numbers for 2010, and the news isn't good. Net sales of all titles were down about $100M from the same time last year (243M down to 149M), but worse were the profit numbers. THQ posted a loss of $30M this quarter against a $6M profit for the same time last year.

The biggest factor in all of this is that THQ hasn't launched a significant new title this quarter. Last year, there was Red Faction: Guerilla and UFC 2009. While UFC 2010 was released to strong sales, it sold 200,000 copies fewer than last years title. There was probably a significant money burn as the Warhammer 40K mmo is readied for launch.

So while the news wasn't good it certainly doesn't point to THQ being in significant trouble anytime soon.

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