Wednesday, April 18, 2012

THQ Raises Q4 Outlook

Agoura Hills-based THQ, the embattled videogame maker, is finally seeing some good news, reporting today that it is expecting to report non-GAAP net sales of $160 million to $170 million, above its previous outlook of $130 million to $150 million. The publicly held videogame maker said the results were boosted by strong net sales of its Saints Row: The Third title, plus slightly higher sales of its UFC Undisputed 3 title. The unexpectedly higher results are welcome news at the videogame maker, which has been in the throes of layoffs and restructuring since last year. THQ has gone through a cycle of layoffs, including elimination of studios last August, layoffs in December, a huge layoff in February, cuts to its kids titles in January, and abandoning MMO development for its Warhammer title last month, which also resulted in steep job cuts at the company.

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