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Joystiq Xbox 360 - 23 weeks 2 days
THQ has lowered its earnings forecast for the third quarter of the 2012 fiscal year, citing underwhelming sales of its recently multiplatform uDraw tablet.
THQ CEO Brian Farrell explained in a press release, "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." As a result, the company is lowering its original sales guidance of between $510 million and $550 million by "approximately 25 percent," which is a large number of millions (at least $127.5 million).
We'll know how poorly the device did when third quarter results drop next February. Until then, Farrell assures investors that "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." We guess folks are just more into simulated violence and genuine bonersword violence than they're into drawing things with their kids.
uDraw hasn't fared so well on Xbox 360 and PS3, THQ lowers its forecast originally appeared on Joystiq on Thu, 08 Dec 2011 01:00:00 EST. Please see our terms for use of feeds.
Joystiq PS3 - 23 weeks 2 days
THQ has lowered its earnings forecast for the third quarter of the 2012 fiscal year, citing underwhelming sales of its recently multiplatform uDraw tablet.
THQ CEO Brian Farrell explained in a press release, "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." As a result, the company is lowering its original sales guidance of between $510 million and $550 million by "approximately 25 percent," which is a large number of millions (at least $127.5 million).
We'll know how poorly the device did when third quarter results drop next February. Until then, Farrell assures investors that "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." We guess folks are just more into simulated violence and genuine bonersword violence than they're into drawing things with their kids.
uDraw hasn't fared so well on Xbox 360 and PS3, THQ lowers its forecast originally appeared on Joystiq on Thu, 08 Dec 2011 01:00:00 EST. Please see our terms for use of feeds.
Joystiq Wii - 28 weeks 2 days
THQ has announced financial figures for the second quarter (July through September) of its 2012 fiscal year. Despite having a release schedule that any company would consider light, it managed to bring in net sales of $146 million. That's a pretty significant increase over the $77.1 million it brought in during the same period last year. Of course, its losses nearly doubled year-over-year as well. Easy come, easy go.
The top performer was Warhammer 40K: Space Marine, which managed to sell 1.2 million units across all platforms during the quarter, a little under half of which were sold in North America. Brian Farrell, THQ's CEO, explained during a conference call that older catalog titles also sold well, specifically mentioning Saints Row 2. We guess people are eager to get back into the swing of (blowing up) things.
Farrell added, "We are encouraged that our second quarter performance exceeded our expectations, particularly in a quarter with a light release schedule." We imagine he'll be pretty darn encouraged next quarter, which sees the release of the ridiculous Saints Row: The Third, and the somehow even more ridiculous WWE '12.
THQ's sales 'exceeded expectations' in Q2, Space Marine sold 1.2 million originally appeared on Joystiq on Wed, 02 Nov 2011 17:15:00 EST. Please see our terms for use of feeds.