THQ Experience Q1 Loss Of $30 Million

Publisher THQ have had a difficult first quarter in 2010 with net sales down to $149.4 million from $243.5 million and a reported loss of $30.1m compared to profits they had experienced for the same period in 2009.

CEO for THQ Brian Farrell highlighted lower than expected sales of their most recent UFC title and that they look towards spreading future releases in the franchise out rather than keeping to yearly updates of the series. He also had this to add in a conference call to investors over the financial results:

"We are excited about the opportunity for industry growth provided by rapidly expanding online markets and new gaming platforms such as Kinect, Move and Nintendo 3DS,"..." We are developing franchises on these new gaming platforms and we are increasing our investment in online and digital gaming to benefit from these emerging markets."

Seems like many of the major publishers have been heavily hit so far this year in their revenue streams. Let's see if devices like the Playstation Move, Microsoft Kinect and Nintendo 3DS help to shake up the fortunes of THQ and their ilk over the remainder of the year.