Losses continue at THQ for Q1
Its small consolation for THQ that its losses for the first quarter of 2009 werent as bad as analysts expected, as its still mired in a financial difficulty it seems unable to escape.
The publisher posted a $96.6 million loss, as opposed to the predicted figure of $149, though its still three times the drop it experienced the same time last year. THQ has already laid off 600 staff and closed studios in an effort to reduce costs, which is perhaps where the difference in its expected revenue drop and its actual losses came from.
It doesnt appear to be the beginning of the end, however, as traders are still being advised to buy into the company by Wedbush Morgan analyst Michael Pachter, thanks to its noticeable efforts to restructure - having made savings of $220 already.
Its not a particularly bright future for THQ, but at least there does still appear to be a future.
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