Sections

THQ Q2 2010 financials: Company reports $5.6 million loss, still looking positive

Wednesday, 4 November 2009 22:58 GMT By Stephany Nunneley

UFC

THQ has released its financial 2010 results for its second quarter which ended September 30, 2009 and will conclude for the year in March 2010.

While reporting a loss, things are looking up for the company as it has reduced its operating loss and is closer to breaking even since financial problems that plagued it last year.

While the company had no major product releases in the fiscal 2010 second quarter, net sales were driven by previously released games.

The company reported net sales of $101.3 million, compared with $164.8 million in the same period last year. On a non-GAAP basis, for the three months ended September 30, 2009, the company reported net sales of $100.4 million, compared with $151.6 million a year ago.

From the release:

For the three months ended September 30, the company reported a net loss of $5.6 million, or $0.08 per share, compared with a net loss of $115.3 million, or $1.73 per share, in the prior-year period. On a non-GAAP basis, for the three months ended September 30 the company reported a net loss of $25.2 million, or $0.37 per share, compared with a net loss of $30.4 million, or $0.46 per share, in the same quarter a year ago.

The company expects to report fiscal 2010 second half net sales similar to last year’s second half, with fiscal 2010 third quarter net sales that are approximately 5-10% below the same period last year, and a stronger fiscal 2010 fourth quarter than the prior-year quarter.

THQ plans to improve revenues year-over-year once its starts operating at a profit, and is confident that will happen once a predicted decline during the Q3 fiscal quarter is over.

CEO Brian Farrell said during the call to investors earlier that “THQ is now operating as a more efficient company”, and UFC 2009 Undisputed, WWE SmackDown vs. Raw 2010, and MX vs. ATV Reflex will continue bringing revenue during the coming months.

Full PR passed the break.

THQ Reports Fiscal Second Quarter Results

AGOURA HILLS, Calif.–(BUSINESS WIRE)–THQ Inc. (NASDAQ: THQI – News) today announced financial results for the three months ended September 30, 2009.

For the fiscal second quarter ended September 30, 2009, THQ reported net sales of $101.3 million, compared with $164.8 million in the prior-year period. On a non-GAAP basis, for the three months ended September 30, 2009, the company reported net sales of $100.4 million, compared with $151.6 million a year ago. The company had no major product releases in the fiscal 2010 second quarter, and as a result, net sales were driven primarily by continued sales of previously released games.

For the three months ended September 30, 2009, the company reported a net loss of $5.6 million, or $0.08 per share, compared with a net loss of $115.3 million, or $1.73 per share, in the prior-year period. On a non-GAAP basis, for the three months ended September 30, 2009, the company reported a net loss of $25.2 million, or $0.37 per share, compared with a net loss of $30.4 million, or $0.46 per share, in the same quarter a year ago.

A reconciliation of non-GAAP to GAAP results is provided in the accompanying financial tables.

“THQ is now operating as a more focused, more efficient company,” said Brian Farrell, THQ’s president and CEO. “We continue to deliver highly rated hit titles such as UFC 2009 Undisputed and WWE SmackDown vs. Raw 2010. We believe we are well positioned this holiday with our strong mass-market line-up led by the highly rated WWE SmackDown vs. Raw 2010, and the latest version of our multi-million unit franchise MX vs. ATV Reflex. In addition, we have positioned THQ to take a leading role in emerging online platforms in Asia and the US.”

In July 2009, THQ prevailed in arbitration and in August 2009, THQ reached a settlement with JAKKS Pacific, which established a 40% lower preferred return payment rate owed to JAKKS Pacific for video games sold under the WWE license from July 1, 2006 through December 31, 2009. Pursuant to the terms of the settlement agreement, the company paid $32.8 million of accrued venture partner expense to JAKKS Pacific for the period of July 1, 2006 through March 31, 2009. Also related to the settlement, the company reported a one-time benefit of $24.2 million in its GAAP financial results for the fiscal 2010 second quarter ending September 30, 2009.

Fiscal 2010 Second Quarter Highlights and Recent Developments

* THQ gained market share for the first nine months of calendar 2009, ranking as the #3 independent publisher in the US1 with a 5.4% share and the #4 independent publisher in Europe2 with a 4.5% share
* UFC® 2009 Undisputed™ is a top-five best selling Xbox 360® and PlayStation®3 game for the first nine months of calendar 2009, according to NPD
* THQ strengthened its balance sheet with the issuance of $100 million of 5.00% convertible senior notes maturing in August 2014
* THQ advanced its online games strategy with the:
o launch of Dragonica™ Online in North America;
o launch of the public beta version of Company of Heroes® Online in China with Shanda Games; and
o new partnership with Windysoft to bring Company of Heroes Online to South Korea
* THQ appointed Edward L. Kaufman as Executive Vice President of Business and Legal Affairs, and Corporate Secretary

1Source: The NPD Group

2Source: Chart-Track and GfK

Business Outlook

Fiscal Year Ending March 31, 2010

The company reaffirmed its expectation to report fiscal 2010 net sales higher than those reported in fiscal 2009, and to achieve profitability for fiscal 2010, on a non-GAAP basis. The full year non-GAAP outlook excludes the one-time benefit of $24.2 million from the JAKKS settlement.

The company reaffirmed its expectation that its fiscal 2010 year-end cash balance will be at least $50 million higher than at the end of fiscal 2009, excluding the $32.8 million settlement payment to JAKKS Pacific and the net proceeds from the $100 million convertible senior note offering.

Fiscal 2010 Second Half Net Sales

The company expects to report fiscal 2010 second half net sales similar to last year’s second half, with fiscal 2010 third quarter net sales that are approximately 5-10% below the same period last year, and a stronger fiscal 2010 fourth quarter than the prior-year quarter.

Pursuant to THQ’s product strategy, key releases scheduled for the third and fourth quarters of fiscal 2010 include:

Fiscal Third Quarter

Core Games

Platforms

WWE® SmackDown® vs. Raw® 2010

Xbox 360, PlayStation 3, Wii™, Nintendo DS™,

PlayStation®2, PSP®

MX vs. ATV™ Reflex

Xbox 360, PlayStation 3, Nintendo DS, PSP

Kids, Family and Casual Games

All Star Cheer Squad™ 2

Wii

Disney●Pixar’s Cars Race-O-Rama

Xbox 360, PlayStation 3, Wii, Nintendo DS, PlayStation 2, PSP

Drawn to Life®: The Next Chapter™

Wii, Nintendo DS

Marvel® Super Hero Squad™

Wii, Nintendo DS, PlayStation 2, PSP

SpongeBob Truth or Square

Xbox 360, Wii, Nintendo DS, PSP

The Biggest Loser

Wii, Nintendo DS

World of Zoo™

Wii, Nintendo DS, Windows PC

Online

Company of Heroes Online

Online

Dragonica Online

Online

Fiscal Fourth Quarter

Core Games

Platforms

Darksiders™

Xbox 360, PlayStation 3

Metro 2033™

Xbox 360, Windows PC

Warhammer® 40,000™: Dawn of War™ II –

Windows PC

Chaos Rising™

Non-GAAP Financial Measures

In addition to results determined in accordance with GAAP, the company discloses certain non-GAAP financial measures that exclude the following:

* stock-based compensation expense,
* the impact of deferred revenue and related costs,
* business realignment expense,
* other-than-temporary impairment on investments and any subsequent realized gains on those investments, and mark-to-market adjustments on trading Auction Rate Securities,
* other material non-recurring charges and benefits, and
* related income tax effects for each of these items.

Beginning in fiscal 2010, for non-GAAP purposes, the company has adopted a fixed, long-term projected tax rate of 15% to evaluate its operating performance, as well as to forecast, plan and analyze future periods.

THQ may consider whether other significant non-recurring items that arise in the future should also be excluded in calculating the non-GAAP financial measures it uses.

The company excludes these expenses from its non-GAAP financial measures primarily because its management does not believe they reflect the company’s core business, ongoing operating results or future outlook. THQ’s management believes that the use of non-GAAP financial measures provides meaningful supplemental information regarding its financial condition and results of operations, and helps investors compare actual results to its long-term operating goals as well as to its performance in prior periods. The non-GAAP financial measures included in the earnings release have been reconciled to the comparable GAAP results in the accompanying tables, and should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

In addition to the reasons stated above, which are generally applicable to each of the items THQ excludes from its non-GAAP financial measures, the company’s management uses certain of the non-GAAP financial measures for the following reasons:

Stock-Based Compensation. THQ does not consider stock-based compensation charges when evaluating the performance of its business or formulating its operating plans. Stock-based compensation charges are subject to significant fluctuation outside the control of management due to the variables used to estimate the fair value of a share-based payment, such as THQ’s stock price, interest rates and the volatility of the company’s stock price. Further, when considering the impact of equity award grants, THQ places a greater emphasis on the use of such grants as retention tools for long-term stockholder value creation, as well as overall stockholder dilution, rather than the accounting charges associated with such grants.

Deferred Revenue/Costs. Beginning in fiscal 2008, the company began recognizing the revenue and related costs from the sale of certain titles for which the online service is determined to be a deliverable over the estimated online service period. Although the company defers the recognition of its net revenue and costs with respect to these titles, there is no adverse impact to its operating cash flow. Internally, THQ’s management excludes the impact of deferred net revenue and costs related to packaged games when evaluating the company’s operating performance, when planning, forecasting and analyzing future periods, and when assessing the performance of its management team. The company believes that excluding the impact of deferred net revenue and related costs from its non-GAAP financial measures is important to facilitate comparisons to prior periods when the company did not defer the recognition of such amounts.

Business Realignment Expense. Although THQ has incurred business realignment expenses in the past, each charge has been a discrete, extraordinary event based on a unique set of business objectives. The company does not engage in business realignments on a regular basis or in the ordinary course of business. As such, the company believes it is appropriate to exclude these expenses from its non-GAAP financial measures.

Investor Conference Call

THQ will host a conference call to discuss fiscal 2010 second quarter results today at 2:00 p.m. Pacific/5:00 p.m. Eastern. Please dial 877.356.8075 domestic or 706.902.0203 international, conference ID 36220855 to listen to the call or visit the THQ Inc. Investor Relations Home page at http://investor.thq.com. The online archive of the broadcast will be available approximately two hours after the live call ends. In addition, a telephonic replay of the conference call will be provided approximately two hours after the live call ends through November 6, 2009, by dialing 800.642.1687, domestic, or 706.645.9291, international, conference ID 36220855.

About THQ

THQ Inc. (NASDAQ: THQI – News) is a leading worldwide developer and publisher of interactive entertainment software. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at www.thq.com and www.thqwireless.com. THQ, All Star Cheer Squad 2, Company of Heroes, Darksiders, Drawn to Life: The Next Chapter, MX vs. ATV Reflex, World of Zoo and their respective logos are trademarks and/or registered trademarks of THQ Inc.

%

Latest

  • GOG weekend sale celebrates German debut

    DRM-free games vendor GOG is celebrating its German-language launch with a tasty sale. The sale offers discounts over 25 “German favourites”. Highlights inclue 97% off Deponia, and less steep but still tasty savings on Memoria and Blackguards 1 and 2. The sale will run through March 3, and you do not have to be, speak, […]

  • Humble Weekly Bundle goes back to Japan

    The latest Humble Weekly Bundle is called Made in Japan, and I’m sure you can guess the theme. Pay what you want for Cherry Tree High Complete Pack (PC; Steam or DRM free), Fairy Bloom Freesia (PC; Steam or DRM free) and Influent + Language Pack (Linux, Mac, PC; Steam or DRM free). Pay more […]

  • Capcom “looking into” solutions to Resident Evil: Revelations PC co-op issue

    Resident Evil: Revelations 2 fans should sit tight for a bit, as Capcom is working on some sort of solution to the co-op issue. Resident Evil: Revelations 2 doesn’t have local co-op on PC and fans are pretty mad about that, as it was advertised ahead of release as a key feature. Although Capcom has […]

  • The games industry is disruption, says Assassin’s Creed producer

    Former Assassin’s Creed producer Jade Raymond has characterised the games industry as one long series of upsets. The games industry changes all the time, and that’s one of its best qualities, Raymond said. The ex-Ubisoft leader told Polygon that the reason seh got into games in the first place was because it “is this undefined […]

  • GTA 5 made $31 million in digital revenue in January

    GTA 5 is the highest-grossing title at the moment in terms of digital revenue, and the PSN is absolutely minting it. Digital games industry analyst Superdata has extended its scope to include console games, which means we suddenly have access to a whole bunch of data we’ve only been able to guess at, or extrapolate […]

  • Destiny: Inferno playlists debut next week

    Destiny PvP will shake things up next week with a new way to slaughter your mates in the Crucible. Destiny is already a skilled PvP game, but the new Inferno playlists will turn things up a notch with a focus on “basic gunplay”. The first of these, Inferno Control, kicks off on March 3 and […]

  • First-person camera coming to Guild Wars 2 next month

    ArenNet has announced its adding nonrestrictive first-person view to Guild Wars 2. Here’s what top expect come March 10: First-person Camera: Zooming in all the way will allow players to experience a first-person view. First-person mode is available while standing in place, walking, running, jumping, playing PvP and just about anything else. There aren’t any […]

  • Shadowrun Online signs on with Nordic

    Shadowrun Online has been given a nice little boost thanks to a distribution deal with Nordic Games. Shadowrun Online is a new team tactical RPG from Cliffhanger Productions. Although it’s already available through Steam Early Access, Nordic has agreed to distribute the finished version, which is due on Linux, Mac and PC in the second […]

  • Final Fantasy 15 is 60% finished, game world ten times the size of demo

    Final Fantasy 15 is 60% finished, according to director Hajime Tabata. Speaking with IGN, Tabata said development will kick into high gear once the Episode Duscae demo is released. “It’s about 60% now. People may look at that and say ‘well, you’ve only done five more percent!’ [since 55% in September] but it’s actually a […]

  • Destiny: you don’t need to visit the tower to access your vault

    Destiny players, you asked for it and Bungie has delivered it: you can now swap items in and out of the vault using the companion app. “Destiny needs more vault space” you cry – and yes, this is true. But while we all struggle with the limitations imposed on us by Bungie, we face all […]

  • Mortal Kombat X will contain over 100 Brutalities

    During the Mortal Kombat X stream today, NetherRealm Studios revealed Brutalities are back for the game, and stated there will be over 100 to pull off. You won’t gain any extra experience for being overly cruel with your painful moves, but you will at least get to laugh at some and “cringe” at others, according […]

  • Numenera: Strand is a film based on the game up on Kickstarter

    Numenera, the 2012 Kickstarter success and foundation for Torment: Tides of Numenera, could become a film if the Kickstarter for the movie is successful. With five days left, Monte Cook Games and Swedish film company Valdes/Eriksdotter needs £22,542 to reach its goal. Titled Numenera: Strand, it tells the tale of a drifter who “roams a […]

  • Gran Turismo 6 update adds MINI Clubman Vision, more

    A Mini Cooper has invaded Gran Turismo 6 via a new update. The Mid-Field Raceway track has also been added, and its a new and improved version of the original track from previous Gran Turismos. The new B-Spec Mode feature has also been added which allows the AI driver to race on your behalf. Additional […]

  • Nintendo is bringing New 3DS Xl and some playable titles to PAX East

    Nintendo is bringing New 3DS Xl and Splatoon with it to PAX East next month. The E3 2014 build of the game lets eight players transform into squids in a race for “splattered-paint dominance.” Code Name: S.T.E.A.M. will also be playable and featured in stage presentations at the Nintendo booth. Upcoming or newly released Nintendo […]

  • Battlefield Hardline Premium information seems to have slipped out early

    Battlefield Hardline Premium perks have apparently leaked a bit early, according to a post on Reddit. Over on the Hardline subreddit is an image which was take at a GameStop location, noting two week early access to content additional Battlepacks and more. Here’s the rundown: Four expansions Two weeks early access 12 additional Battlepacks Exclusive […]

  • Final Fantasy: Record Keeper arrives in the US this spring

    Final Fantasy: Record Keeper will be released in the US on iOS and Android this spring, DeNA and Square Enix today. The mobile titles allows players to “relive favorite moments” across all Final Fantasy installments and build a team of classic characters from across the entire franchise. If you sign up for email updates, you […]

  • Battlefield Hardline now available for pre-order, pre-download on Xbox One

    Battlefield Hardline is now available for pre-order and pre-download on Xbox One. You can pre-order it now from the Xbox Store and once you have paid for it, you can start your pre-download. Battlefield Hardline releases on March 17, and will be made available to pre-downloaders come 12.01am EDT. Check pricing and availability for your […]

  • Dying Light interactive video allows you switch between day and night

    A new video for Dying Light has been released, which allows you to hit the Z key to change between day and night. Titles Life and Death in the Quarantine Zone, the interactive story video showcases how the game changes between day and night. Daytime and nighttime are shown side-by-side but the z key allows […]

  • Havoc DLC for Call of Duty: Advanced Warfare out on PS3, PS4; PC delayed

    The Havoc DLC for Call of Duty: Advanced Warfare is now available for PlayStation 3 and PS4. Havoc contains the four multiplayer maps Core, Drift, Sideshow, and Urban along with the AE4 directed energy assault rifle, its custom variant, and the Exo Zombies cooperative mode. You can purchase the DLC separately or pick up the […]

  • Here’s a teaser for Resident Evil Revelations 2: Episode 2

    A teaser video for the second episode of Resident Evil Revelations 2 is available, so if you’ve yet to play the first episode, you may want to skip this. Resident Evil Revelations 2′s first episode is out now. Thanks, GamesHQMedia.

  • North American eShop update is full of Donkey Kong games

    Nintendo has updated the North American end of the eShop with Titan Attacks, Donkey Kong Land, Donkey Kong Country and more. eShop on 3DS Ironfall Invasion Titan Attacks! Donkey Kong Land – Virtual Console Donkey Kong Land 2 – Virtual Console Donkey Kong Land 3 – Virtual Console Luv Me Buddies Wonderland Around the World […]

  • Venture into the Valley of the Yetis next week in Far Cry 4

    The next batch of Far Cry 4 DLC, Valley of the Yetis, releases in March and Ajay Ghale will be tasked with surviving violent cultists and the mythical Yeti. Apparently the cult is looking for a secret hidden in the valley, and Ajay has discovered their motives. The DLC features co-op with a friend taking […]

  • The Butcher’s AK/CAR Mod Pack out for Payday 2, has dino masks

    The 19th DLC pack for Payday 2 title The Butcher’s AK/CAR Mod Pack is available on Steam from today. The pack will run you $4.99/€4.99 and features: 11 new weapon modifications for the AK rifles in the game 11 new weapon modifications for the CAR rifles in the game Four new masks together with their […]

  • Battle Chasers slated for PC, consoles; comic picks up where 2001 storyline left off

    Darksiders creator Joe Madureira and Vigil co-founder Ryan Stefanelli have confirmed a Battle Chasers game and a new comic are in the works at their new studio Airship Syndicate. Speaking to Polygon, Madureira and Stefanelli wouldn’t provide details on the the game, but did divulge it will be an adventure RPG with player-controlled Battle Chasers […]

  • Shovel Knight, Hotline Miami 2 discounted for Sony’s annual Spring Fever Sale

    Sony is hosting its annual Spring Fever Sale which runs for eight weeks and features a new title each week. The sale starts next week on March 3 with the launch of Helldivers. Here’s just a few items included in the sale: HELLDIVERS (PS4/PS3/PS Vita) March 3 Hotline Miami 2: Wrong Number (PS4/PS3/PS Vita) March […]

  • The gold Super Mario amiibo is a Walmart exclusive

    The Super Mario Gold amiibo which surfaced via a CPSIA certificate earlier this month will be a Walmart-exclusive, Nintendo has announced. The gold-colored Mario amiibo will be released the same day as the Mario Party 10 game for Wii U and will run you $12,96 at 3,000 participating Walmart stores in the US. Along with […]

  • Here’s an overview trailer for Final Fantasy Type-0 HD

    As new gameplay overview trailer for Final Fantasy Type-0 HD, culled from the Active Time Report, stream has been sent over by Square Enix. The video provides a look at the history and environments of the Kingdom of Orience; the 14 memebers of Class Zero; the battle system with customizable magic spells; and the ability […]

  • Final Fantasy 15 video gives you a look at the game’s wildlife

    A new video shown by Final Fantasy 15 director Hajime Tabata during the latest Active Time Report, contains a look at the game’s wildlife and ecology. You can watch the full stream two hour stream through here, or a smaller clip courtesy of GamesHQMedia below.

  • Lionhead ventures into the free-to-play space with Fable Legends

    Fable Legends will be free-to-play when it launches on PC and Xbox One. According to Lionhead, the one versus four cross-platform title borrows from MOBA games such as Dota 2 and League of Legends as it will contain free, rotating heroes which will be added to a roster for a two week period. Once the […]

  • Win! 5 pairs of tickets to the Call of Duty European Championships

    We have five pairs of tickets to giveaway for the Call of Duty European Championships, taking place in London this weekend. The event takes place this Saturday February 28 and Sunday March 1 at the Royal Opera House in Covent Garden. Winners can watch teams will go head to head for a $10,000 prize pot […]

1 Comments

  1. Grimrita

    If DoW2 wasnt so crap, then maybe sales would have been higher and putting it at number #1 in the chart..

    #1 5 years ago

Comments are now closed on this article.

  • GTA Online reader playlist week 7: and the winner is…

    Stuff was shot. But only one player emerged victorious. GTA Online player e031271 won last night’s VG247 reader playlist, beating myself, Matt and regulars solidorwot and Revolting. Congratulations, Mr e031271. A deserved victory. We play a GTA Online playlist in an open session every Wednesday on PS4, because it’s both funny and fun. Anyone’s welcome […]

  • Leaked screens reveal The Reef as Destiny’s new “social space”

    A handful of leaked Destiny screens seem to confirm that The Reef location will be the new social space in Destiny. The new addition is likely to be revealed as part of the upcoming House of Wolves expansion. Reddit user Megamanexe4 dropped the screens on the site earlier this morning, along with grabs that reveal […]

  • Darksiders creator teases Battle Chasers game

    Joe Madureira, creator of Darksiders, has released art that strongly suggests a Battle Chasers game is in the works. Battle Chasers was a comic book from the late 1990s that suffered notorious production problems between issues and was never finished. Madureira formed Airship Syndicate after the collapse of THQ, where he co-created Darksiders. His latest […]

  • Infamous video nasty Axe recreated in GTA 5

    The trailer for notorious horror movie Axe has been recreated in GTA 5. The shot for shot remake is the work of gigerbrick who has previously recreated exploitation flicks like Machete and Hostel using Lego. The original Axe movie was banned in 1984 in the UK but passed with cuts in the late 1990s. Movie […]

  • Payday 2 for PS4 and Xbox One includes “a year’s worth of paid DLC” for free

    Payday 2: Crimewave Edition will include a year’s worth of paid DLC from the PC version of the game for free. The new-gen version of the game will be available June 2015, and includes almost all of the paid and free DLC released so far for Overkill’s popular first-person shooter. That DLC includes The Big […]

  • Yes, Mortal Kombat X will require Xbox Live Gold or PS Plus

    Mortal Kombat X won’t bypass Microsoft and Sony’s premium online play requirements. Reports that Mortal Kombat X wouldn’t require PS Plus or Xbox Live Gold started circling earlier this week thanks to a communications error. Answering fan questions on Twitter, producer Shaun Himmerick accidentally gave the impression that premium console subs would not be required […]

  • This is what Destiny players most want next

    Destiny patch 1.1.1 has resolved or at least addressed a number of complaints voiced by the community, but there are plenty more. des Destiny community manage David “Deej” Dague has put out a call for Guardians to share their concerns – or rather, what they think the community is most concerned about. “Set aside your […]

  • Google AI can play games now, so we’re probably all going to die

    Google has brought us one step closer to our inevitable slaughter or enslavement by machine overlords. Google has developed an AI that can learn to play video games and devise brand new strategies. Let me just rephrase that: Google has created an AI that can teach itself new skills, including how to play video games. […]

  • First footage of Renowned Explorers: International Society surfaces

    Renowned Explorers: International Society is a turn-based strategy game from the team behind Reus, and it looks great. Renowned Explorers was announced almost a full year ago, but has been pretty quiet since then. Developer Abbey games has now announced that the game has hit alpha, and will be open to select testers soon. You […]

  • Cities: Skylines developer commits to mod support

    Cities: Skylines will fully support the modding community. Hailing from famously mod-friendly publisher Paradox, Cities: Skylines is a no-brainer for mod support – especially as a lack of mod support is one of the things SimCity was so heavily criticised for when it firts launched. In the developer diary below, Paradox’s Jakob Munthe is joined […]

  • Nosgoth update adds Vanguard, many fixes

    Nosgoth, the free-to-play multiplayer brawler set in the Legacy of Kain universe, has been given a significant makeover. The major feature of the latest Nosogth game update is a new playable human character called the Vanguard. “Equipped with mighty throwing axes and a shield, the Vanguard can take more punishment than any human class that […]

  • Xbox Live Gold 12 month sub $40 on Microsoft store

    Microsoft is offering $20 off 12 month Xbox Live Gold subscriptions at the moment. An Xbox Live Gold 12 month subscription will normally set you back $60, but a Microsoft Store promotion has it on offer for $40. The offer is restricted to the US store. Although you can opt to grab your sub as […]

  • Tomb Raider movie script to be penned by TMNT writer

    Tomb Raider will be Evan Daugherty’s second reboot of an established universe. The Tomb Raider movie reboot has signed on a writer and a distributor. Deadline reports Teenage Mutant Ninja Turtles, Divergent, Snow White And The Huntsman and G.I. Joe 3 writer Daugherty will write the film. Additionally, Warner Bros. has signed on to distribute, […]

  • Shelter 2 pre-orders open, launch trailer debuts early

    Shelter 2 is a game in which you are a mother lynx and must protect a den of kittens. Yes, it’s delightful. Shelter 2 is coming to Mac and PC on March 9. Pre-orders are now available on Steam at 10% off or on GOG.com with a free skin and soundtrack, or 20% off if […]

  • That Batman: Arkham Knight trailer is full of codes

    Batman: Arkham Knight’s trailer is like a Transformer – there’s more than meets the eye. The new Batman: Arkham Knight trailer contains a number of codes. Eagle-eyed users have spotted four so far, and work on cracking their meaning is progressing. According to an /r/games thread rounding up results so far, the codes pertain to […]

  • Assassin’s Creed haystacks won’t save you from a fall

    Assassin’s Creed fans, don’t try this at home. Assassin’s Creed characters can survive falls of almost any distance as long as they aim for the haystacks scattered handily throughout the environment. As you probably deduced from your familiarity with common sense, this isn’t a real thing: falling from heights kills you, the same way a […]

  • Why are people buying PS4 and not Xbox One?

    PS4 is outselling Xbox One – but why? A new report may have the answer. Last month, the PS4 outsold the Xbox One in the US again, returning it to the top of the charts after just two months away. Why? What has caused this reversal in fortunes in Microsoft’s home territory? According to a […]

  • Toejam and Earl are back with a new Kickstarter

    The early 90′s are alive and well in a new bid to bring back Toejam and Earl. Toejam and Earl released for Mega Drive (Genesis, Americans) in 1991, and the eponymous characters went on to count among Sega’s best-known characters. They appeared in a platformer, a light gun shooter and finally a 2002 Xbox game […]

  • New Wander trailer shows off Azertash form

    Wander is a collaborative, non-combat MMO in which you can take on a number of unique forms. Wander players begin as an ambulant tree called an Oren and can progress through several different bodies as they explore the environment, learning its secrets. One of these, which we’d not seen before this trailer, is the amphibious […]

  • SOMA approaching beta phase on PC and PS4

    SOMA, the new horror game from the Amnesia: The Dark Descent crew, is getting close to playable. Frictional Games has apologised for its recent silence over the project, but said it’s focused on reaching beta. Sorry all for the silence! We're closing in on Beta and everyone's working hard to get there. Once that's done, […]

  • Square Enix does not condone Final Fantasy: Mystic Quest HD Remaster

    Square Enix has said it’s not involved with a fan remake of Final Fantasy spin-off Mystic Quest. 1992 SNES game Final Fantasy: Mystic Quest is being remade by Dark Design as Mystic Quest HD Remaster. The developer is even taking pre-orders for the project. Unfortunately, it looks like it is in no position to be […]

  • New Hunger teaser released by LittleBigPlanet Vita co-developers

    LittleBigPlanet Vita co-developers Tarsier Studios have released a teaser trailer for Hunger, which was announced in May 2014 at the Nordic Game Conference. The game has been rumored to be the firm’s unannounced Sony project since 2010. Platforms are still to be announced, but the studio became a first-party SCE developer a few years back, […]

  • Here’s two Mario Party 10 overview videos, one featuring amiibo

    Overview videos for Mario Party 10 and the amiibo which work with the title have been released by Nintendo Japan. Obviously each one is in Japanese, but you get the gist all the same. Mario Party 10 releases on Wii U March 20 in North America and Europe. Thanks, AGB.

  • Clan Raids announced for Call of Duty: Advanced Warfare Companion App

    Activision has announced a new Clan Raids mode will be made available through the Call of Duty: Advanced Warfare Companion App. According to the CoD community blog, raids are time-based challenges where success earns you a spot on the Clan Raids leaderboards and new Clan Raid-exclusive in-game gear like the Equilibrium set. Clan members will […]

  • Play Battlefield Hardline starting March 12 through EA Access

    Xbox One users with an EA Access subscription will be able to play 10 hours worth of Battlefield Hardline starting March 12. EA Access members will are being granted access to the game five days before the street date, with full multiplayer and all saves transferring over into the main game. It was announced yesterday […]

  • This video summarizes the contents of Destiny patch 1.1.1

    With Destiny patch 1.1.1 now available, here’s a video summary of what to expect. In the video above, Arekkz Gaming gives you a rundown of the important bits in the update. Subscribe to Arekkz Gaming for more Destiny tips and trick through the link.

  • Destiny 1.1.1 patch notes out, update is live

    Destiny’s 1.1.1 patch arrives today, so if you have been kicked from activities, it means you will need to download the patch now that it’s live. We will be pushing the 1.1.1 patch for Destiny shortly. Players will be kicked from activities and required to download the patch. — Bungie Help (@BungieHelp) February 25, 2015 […]

  • Payday 2 packs based on Hotline Miami 2: Wrong Number coming

    Starbreeze has announced another collaboration with Dennaton Games which will see masks based on Hotline Miami 2: Wrong Number appear in Payday 2. The collaboration consists of two free updates when you acquire Hotline Miami 2 or its deluxe version on Steam from February 25. The two updates, called Hotline Miami Mask Pack and Jacket […]

  • Velocity 2X making its way onto Linux, Mac, PC and Xbox One

    Velocity 2X will be released on Linux, Mac, PC and Xbox One Futurlab has announced. The developer is in charge of the port, which will be published by Sierra. According to Futurlab, the deal with Sierra came about when self-publishing proved to be difficult due to spending “more time doing PR and marketing on Velocity […]

  • Hotline Miami 2: Wrong Number finally has a release date

    A release date for Hotline Miami 2: Wrong Number has been announced, finally. The game will arrive on Linux, Mac, PC, PlayStation 3, PS4 and Vita March 10. It is now available for pre-order on GOG, Humble and Steam for 10% off for $13.49/£10.99. There’s also a Digital Special Edition available which includes tracks from […]

  • Warhammer 40,000: Dark Nexus Arena is a twin stick shooter MOBA for PC

    Warhammer 40,000: Dark Nexus Arena has been announced as a twin stick shooter MOBA blend from Whitebox Interactive. Set for a 2016 release on PC, the game’s beta will be on show at PAX East next month. An Early Access release is slated for Q2 2015 and you can already purchase early access for a […]

  • More information, videos for cancelled Legacy of Kain: Dead Sun surface

    A trailer for the cancelled Legacy of Kain: Dead Sun title from Climax which was reportedly set for an E3 2012 reveal, has surfaced. Along with the above video is another which is described as a pre-boss battle cutscene. It’s below. According to a source of NeoGAF’s Mama Robotnik, the game was being developed under […]

  • Three additional games added to Square Enix Humble Bundle

    Kane & Lynch Collection, Lara Croft and the Guardian of Light and Startopia have been added to the Square Enix Humble Bundle. All three are made available when paying the average price of $7.69. Those who have already purchased the bundle will automatically be granted the titles. All three are available for PC only. The […]

  • Forza Horizon 2 gets Fast & Furious with standalone expansion

    A Fast & Furious tie-in and standalone expansion to Forza Horizon 2 will arrive for Xbox consoles next month. Titled Forza Horizon 2 Presents Fast & Furious, the downloadable title does not require the base game to play. “We’ve been talking with the folks at Turn 10 for a number of years and have always […]

  • The Evil Within: The Assignment has a release date, new trailer

    The Evil Within: The Assignment will be released on March 10 in North America and March 11 in Europe, it was announced today. Along with an exact release date was a trailer detailing more information about the first set of DLC. The Assignment is the first of two DLCs centering on Detective Castellanos’ mysterious partner, […]

  • Steam and GOG cross-platform multiplayer added to AvP Classic 2000

    Steam and GOG have announced Aliens vs Predator Classic 2000 owners will be able play multiplayer with each other across both platforms. With the recent online multiplayer update for for AVP Classic 2000, Rebellion CEO Jason Kingsley has made good on his promise from June to offer cross-platform play between the Steam and GOG platforms. […]

  • OlliOlli 2: Welcome to Olliwood arrives on PS4, Vita next week

    Roll7 has announced it will release OlliOlli 2: Welcome to Olliwood next week. The developer announced the dates on Twitter this morning alongside the launch trailer. You will be able to download the game for PlayStation 4 and Vita March 3 in North America and March 4 in Europe.

  • Week 7: Play GTA Online with VG247 tonight at 8pm UK time!

    Heists got a date! Come play GTA Online with us to celebrate. We’re playing GTA Online on PS4 tonight with whoever else fancies it. That means you. This week’s playlist is Happy for Heists, because we kind of are. The six jobs involved will last about 45 minutes. Anyone can turn up. Here’s how. We’ll […]

  • Batman: Arkham Knight – first look into the story

    Batman: Arkham Knight has a new trailer available that gives us a peek into Scarecrow’s plan to unite all villains against Batman. The trailer below has a different tone to the ones showing Arkham Knight. Instead, we get a look at Scarecrow’s team of super-villains including new footage of Poison Ivy and Harley Quinn. There […]

  • Vita knocks New 3DS LL out of top slot on Media Create charts

    Thanks to four new titles, one of which was God Eater 2: Rage Burst, PlayStation Vita has knocked New 3DS LL out of the top slot on the Media Create charts in Japan. The handheld, which came in thrid place last week, moved 35,203 units for the February 16-22 period, compared to 10,901 units the […]

  • Dragon Quest Heroes coming west in 2015, PS4 only

    Dragon Quest Heroes will be making its way to west this year. Square Enix has announced that it’s bringing Dragon Quest Heroes to the west this year. The press release mentioned only PAL territories (Europe & Australia). Though it’s unlikely it will miss the US. The game will release on PlayStation 4, both digitally and […]

  • Destiny: how to make sure Crota stays down for longer

    If you’re familiar with the final encounter of the Crota’s End raid, then you know every second Crota is immobilised counts. Arekkz Gaming has a handy tip for anyone who’s played Crota’s End or anyone attempting it. The trick is simple to execute and will ensure Crota stays on his knees for longer, making for […]

  • NBA Live 15 added to EA Access just four months after release

    EA has added NBA Live 15 to the list of games available instantly to anyone with an EA Access subscription. NBA Live 15 has been added to EA Access’ Vault, EA has announced. As of today, anyone with an EA Access subscription on Xbox One can play it alongside other available games. NBA Live 15 […]

  • Deal: get Advanced Warfare Limited Edition Xbox One bundle + extra game for £299

    UK retailer GAME is offering a good deal on the Advanced Warfare Limited Edition 1TB Xbox One bundle and is throwing in an extra game. The retailer has reduced the price of the bundle to £299, which is the usual price for the standalone console. The bundle is of course Advanced Warfare-themed. The console and […]

  • That Metal Gear Rising 2 logo was for the second anniversary of the original

    Metal Gear Rising developer Platinum Games has confirmed, once and for all, that the “2″ logo we saw during Sony’s presentation at Taipei Game Show was definitely not for a sequel. Platinum posted this on Twitter earlier. デザイナーの趙&ニシイから、『MGR』2周年記念イラスト! ディレクターの齋藤( @PG_saito )が、開発スタッフブログでご紹介しています↓↓ http://t.co/IW1aOxAZQR #mgr pic.twitter.com/ZbNF3Jk1tF — PlatinumGames Inc. (@platinumgames) February 25, 2015 The illustrations were made by artist Yong-Hee […]

  • Resident Evil Revelations 2 is formulaic and I’m okay with that

    There’s something comforting about the lack of ambition and plain old gameplay in Resident Evil Revelations 2, says Matt Martin. “It’s locked from the other side.” Of course it is. What did I expect? I’ve been here before. So many times. Not just in Resident Evil but a million other games. It’s so familiar as […]

  • Battlefield 4: double XP event live now through Sunday

    EA is holding a double XP event in Battlefield 4 on all platforms. The publisher is celebrating Battlefield Hardline going gold by offering all Battlefield 4 players double XP in multiplayer matches. The double XP event is now live and through 23:59 UTC on Sunday, March 1.

  • BioShock Infinite, Tomb Raider, Rayman Legends free with March Games with Gold

    The list of free games coming in March as part of Microsoft’s Games with Gold programme has leaked. The leaked list of games include Rayman Legends and #IDARB for Xbox One along with Tomb Raider and BioShock Infinite for Xbox 360. In addition, Microsoft will be offering double the amount of games in April. The […]

  • Telltale’s new IP will be a “super show”, bridges the gap between TV and game

    Telltale’s upcoming mysterious new IP will be produced in collaboration with Lionsgate and will be a hybrid game and TV show. Entertainment Weekly spoke to Telltale CEO Kevin Bruner to understand what’s a super show. “A “Super Show” episode combines one part of interactive playable content with one part of scripted television style content,” said […]

  • Next Mortal Kombat X stream to show Brutalities, new character

    Brutalities will be making a return in Mortal Kombat X and we’re getting a look at them very soon. The next Mortal Kombat X live-stream has been dated and we know it will show Brutalities for the first time. Developer NetherRealm Studios posted this on Twitter. pic.twitter.com/ZJYN1FNRZ9 — NetherRealm Studios (@NetherRealm) February 23, 2015 Notice […]

  • PC version of Resident Evil: Revelations 2 does not support offline co-op [Update]

    Players who bought the PC version of Resident Evil: Revelations 2 have realised that the game doesn’t support offline co-op. Unlike the console versions, the PC version of Resident Evil: Revelations 2 can only be played in single player, with no offline co-op option. Capcom has not revealed this prior to launch. Instead, users on […]

  • Deals with Gold: Assassin’s Creed, Sleeping Dogs, Thief, and more

    This week’s Deals with Gold is offering hefty discounts on some good titles. The list of discounted games for this week’s Deals with Gold promotion includes Assassin’s Creed 4: Black Flag, Sleeping Dogs: Definitive Edition, Thief and others. The deals cover Xbox 360 and Xbox One and are only available to Xbox Live Gold subscribers. […]

  • Snake looks very bloody in new MGS 5: The Phantom Pain shots

    Hideo Kojima has released a few screenshots from Metal Gear Solid 5: The Phantom Pain that show a very bloody Snake. Legendary Metal Gear designer Hideo Kojima has been posting a few cryptic images on Twitter for a while now and it seems things are not looking great for Snake and co. He posted the […]

  • Lethal Weapons: Battlefield Hardline and the buddy cop movie

    Battlefield Hardline brings Visceral’s flair for narrative to a franchise notorious for its lack of storytelling. Battlefield Hardline Written by Rob Auten and Tom Bissell. In addition to their individual credits, the pair have penned a number of games together, including Gears of War: Judgment and The Vanishing of Ethan Carter. Auten has also worked […]

  • Mother 4 gets first gameplay trailer

    Mother 4 is probably never going to happen, but this unofficial fan version looks pretty special. The Mother series is probably best known to western gamers as Earthbound, which is called Mother 2 in Japan. Neither of the other two games have been officially localised, and thanks to its (numerically!) limited impact in the west, […]

  • Long lost Sonic X-treme demo now playable

    Sonic fans have resurrected Sonic X-treme, one of the blue hedgehog’s most regrettably lost adventures. Sonic X-treme was originally planned as the Sega mascot’s first 3D outing. The tale of its troubled development and eventual cancellation is a sad one, but probably pretty typical of the mess that was Sega in its drawn-out death throes. […]

  • Dynasty Warriors 8 Empires getting a free-to-play version

    Dynasty Warriors 8 Empires will be available in a stripped-back free-to-play form in addition to its full retail release. Dynasty Warriors 8 Empires Free Alliances Version will be available in March via the PlayStation Network. FAV players can use Edit and Free Modes, and if they have PlayStation Plus they can play Empire Mode or […]

  • Europa Universalis 4: El Dorado’s new religions, alt starting maps detailed

    Europa Universalis 4: El Dorado adds a number of new mechanics. Get the details direct from the creators. Europa Universalis 4′s next expansion releases on February 26 for Linux, Mac and PC, and adds a boatload of new features. In the seven minute video below, project lead Martin Anward details some of these new features, […]

  • Final Fantasy: Mystic Quest remaster releasing next month

    Final Fantasy: Mystic Quest is getting a re-release. No, we don’t know why. Final Fantasy: Mystic Quest was a bit of a weird project. The 1992 SNES game was designed as a simplified, accessible JRPG, and released outside the US under the title Mystic Quest Legend (Europe and beyond) and even Final Fantasy USA: Mystic […]

  • Mortal Kombat X trailer shows Kitana’s variations

    Every Mortal Kombat X character has three variations, and fan-favourite (ah ha ha) Kitana is no exception. Kitana’s three Mortal Kombat X incarnations are trailered and detailed below: Royal Storm – Long range attacks. More of a zoning and defensive variation. Kitana can use her square boost in the air and escape the corner. And […]