Wall-E to blame for disappointing Q1 results, says publisher
THQ has reported a first quarter loss of $27.2 million, almost three times that of the $9.3 million loss reported during the same period last year.
Despite this, revenue for the firm has risen 32 per cent from $104.5 million to $137.6 million.
The firm said during a conference call that the loss was down to lower than expected sales of Pixar movie tie-in Wall-E.
THQ has lowered its fiscal year sales expectations to be between $1.15 billion to $1.18 billion.
According to Reuters, THQ’s CEO Brian Farrell said: "We expected Wall-E to exceed Ratatouille, but it has not exceeded it by as much as we expected and our new advised forecast reflects that.”
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Comments
Licences
Surprising, a poor tie in not doing well. People are starting to look beyond the licence and towards the quality. Ratatouille was actually a decent game, wall-e not so good.
Re: Licences
It's a shame. Most of the team at Heavy Iron is extremely talented and ambitious. If they weren't crippled by bad leadership, they might really make an impact. If the quality of Wall-E was even lower than Ratatoullie, I hope they survive the next round of cuts. Especially if THQ is scapegoating Wall-E for their cuts despite profits being up 32%.
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