THQ Rebounds to Profit in 4th Quarter
From Bloomberg News
THQ Inc., a maker of video games, said it posted a fiscal fourth-quarter profit on better-than-expected sales of “MX Unleashed,” a dirt-bike racing game. The company raised its profit forecast for the year.
Net income for the period ended March 31 was $5.43 million, or 14 cents a share, Calabasas-based THQ said. That beat its forecast of 12 cents. THQ reported a year-earlier loss of $7.69 million, or 20 cents. Revenue almost doubled to $123.1 million from $66.8 million.
THQ shares rose to $20.05 in extended trading after falling 6 cents to $18.38 on Nasdaq.
