THQ Raises Sales Outlook To $1 Billion

Officials from publisher THQ have announced that the company has raised its quarterly and annual outlook for the year, following better than expected sales of licensed franchises such as Cars and WWE SmackDown vs. Raw 2007.

The company raised its sales outlook for the third quarter, ended December 31st, to $475 million, from its previous estimate of $400 to $425 million. Earnings were expected to be 91 cents a share for the same period, up from a previous estimate of 65 to 70 cents a share.

For the fourth quarter, the company expects to see sales of about $146 million, on earnings of 9 cents per share. This prediction was based on the delay of an unannounced PlayStation 3 title to the first quarter of fiscal 2008.

Revenues for the current financial year were upgraded from $925 to $975 million to about $1 billion. Earnings increased from previous predictions of 77 to 87 cents a share to $1 per share.

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