Midway's losses widen in Q2

Tuesday, 5th August 2008 at 12:48 pm

US publisher sees revenue fall 26 per cent, with net loss increasing by $20.5 million.

Midway has posted a 2Q08 loss of $34.8 million compared to losses of $14.3 million in 2Q07.

The company, which handles Unreal Tournament and Stranglehold, also saw its revenue fall by 26 per cent to $23.4 million.

Notably activity during the quarter included the release of NBA Ballers: Chosen One for Xbox 360 worldwide and for PS3 in North America, and Unreal Tournament III for Xbox 360 in Europe.

For the third quarter, Midway execs have forecast a loss of 37 cents a share on sales of $52 million.

The upcoming quarter will also see Midway release Unreal Tournament III for Xbox 360 in North America and TNA iMPACT! for Xbox 360, PS3, PS2, and Wii worldwide.

http://www.mcvuk.com/news/31433/Midways-losses-widen-in-Q2