Publishers were "too conservative" - Pachter

Wedbush Morgan analyst Michael Pachter has told that both publishers and industry observers have been "caught by surprise" by the level of recent growth.

Pachter's comments came after Wedbush raised its estimates for three major publishers. THQ's quarter 2 revenue estimate is up from USD 195 million to USD 205 million, while EA's rises from USD 670 million to USD 700 million. WM also increased the figure for Activision from USD 135 million to USD 145 million.

"In a nutshell, the publishers all based their forecasts on industry sales that would be flat to down 5 per cent this year," Pachter told

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