THQ loss widens to $27.2 million

THQ Inc. shares fell as much as 11% Thursday as three analysts cut their ratings on the video-game publisher after it reported a first-quarter loss that nearly tripled from a year ago. The company also forecast a second-quarter loss as some new releases are being pushed back until later in the year. Shares came back from their session lows, but still remained down by 91 cents, or 5.7%, to $15.14.

Shawn Milne of Oppenheimer & Co. lowered his rating to perform from outperform. Milne cited THQ's lower estimates and said he was now "taking a wait and see approach to [THQ's] upcoming key titles," such as its planned October release of "Saints Row 2."

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Playstation Man4318d ago

As a PS3 gamer that didn't see Saints Row come to his console and Frontlines get cancelled for 360 exclusivity, I LOL so hard at THQ. EA stays committed to improving PS3 development and what happens? It's their best financial asset for Q1. THQ? FAIL. I doubt that RF:Guerilla or Saints Row 2 are going to be functional on PS3. If it's that same Saint's Row engine making both, expect massive failure with both games for Sony's behemoth. Not that it'll matter, cause both look like garbage at this point.