THQ's record revenues top $1 billion

US publisher THQ has posted its financials for the year ending March 31st – with revenues topping $1 billion (£505.4 million) for the first time, up 27 per cent from the previous year.

The firm’s profit more than doubled compared to the prior year. Net income for the fiscal year shot up from $32.1 million (£16 million) to $68 million (£34.4 million).

Revenue growth was over 20 per cent in each of the major markets – outstripping the average of the overall industry.

A string of major titles meant the company saw strong sales through out all four quarters – with the company performing particularly well in Q4. Revenues in the period rose to $172.2 million (£87 million), up from $148.l million (£74.8 million) the year before.

THQ has now re-affirmed its 2008 financial guidance of $1.12 billion to $1.15 billion (£566.1 million to £581.1 million).

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Tags: THQ , financials

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