THQ cuts net profit forecast

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SAN FRANCISCO -- Video-game publisher THQ Inc on Wednesday slashed its quarterly profit forecast by nearly two-thirds, saying it would book extra expenses related to weak sales of some titles and the cancellation of several projects.

THQ, known for its games based on Pixar animated movies such as "Cars", said it now expected net income of 22 cents per share for its fiscal third quarter ended in December, down from the 61 cents per share it had previously forecast.

But THQ said revenue for the quarter would be $509 million, higher than $490 million forecast earlier. (Reporting by Scott Hillis; Editing by Braden Reddallhe cancellation of several projects.
THQ, known for its games based on Pixar animated movies such as "Cars", said it now expected net income of 22 cents per share for its fiscal third quarter ended in December, down from the 61 cents per share it had previously forecast.

But THQ said revenue for the quarter would be $509 million, higher than $490 million forecast earlier.
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