THQ shares fall 18% after shock financials

By Patrick Garratt, Friday, 6 February 2009 07:18 GMT


The market reacted badly to THQ’s news of a near-$200 million Q3 loss yesterday, sending its shared down 18 percent to $3.40.

The stock actually hit $2.45 at one point, its lowest level since October 1997.

THQ confirmed the loss earlier this week, as well as the need to drop 600 staff in an effort to cut costs.

More here.

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Thq Q3 Financials 2009

  • THQ to develop fewer "core" titles in wake of losses

    THQ boss Brian Farrell said in the firm’s Q3 earnings call last night that fewer core games are to be developed by the publisher in the coming year, but those that are will be more polished and better marketed. “With respect to the core gamer, the aggregate spending will come down,” Farrell said. “The idea […]

  • THQ Q3 earnings call - the transcript

    Want to know what people say when they’ve lost nearly $200 million in three months and have to fire 600 people? Wonder no longer. Seeking Alpha’s published a transcript of last night’s THQ Q3 earnings call in its entirety. Get it here.