THQ is in trouble, lowers Q3 2012 outlook by 25%; stocks crash

Posted By | On 08th, Dec. 2011 Under News | Follow This Author @KartikMdgl

At this point, looking at their market capitalization, any big company can buy THQ. You only need $100 million to buy them out and take their cool IPs like Saints Row and Darksiders.

They recently shipped an Udraw tablet for the PS3 and Xbox 360, which failed to meet sales expectations, resulting in them slashing their outlook for Q3 2012 by 25%. They are expecting net sales for $510 million compared to $550 million that they forecasted earlier.

“Despite uDraw’s strong success on the Wii in fiscal 2011 and market research indicating strong demand for uDraw on Xbox 360 and PlayStation 3, initial sales of our uDraw tablet and software on these high-definition platforms have been weaker than expected,” said Brian Farrell, president of THQ.

“WWE 12 and Saints Row: The Third are expected to perform at or better than the levels we discussed on our fiscal 2012 second quarter earnings call. As we continue to move through the third quarter, we are focused on driving sales of our key holiday titles and maximizing profitability.”

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Thanks, VG247.

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