WWE’s Video Game Distributor Announces $27 Million Loss
World Wrestling Entertainment’s video game distributor, THQ, announced that they have taken a big quarterly hit, missing all of the expectations for the quarter. THQ reported a net loss of $27.2 million for the Fiscal 2009 First Quarter, causing a 12.8% loss in stock price this past Wednesday.
THQ continue to remain optimistic with the upcoming WWE SmackDown vs. Raw 2009 and WWE Legends of WrestleMania video games which will be released in the upcoming quarters. CEO Brian Farrell said, “We have a robust product slate of key titles scheduled to launch in each of the next several quarters, starting with de Blob in September; Saints Row 2 and WWE SmackDown vs. Raw 2009 in the holiday quarter; Red Faction Guerrilla, Darksiders: Wrath of War and WWE Legends of Wrestlemania in our fiscal fourth quarter; and UFC 2009 Undisputed in the first quarter of fiscal 2010.”
Credit: Andy Steven