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Losses continue at THQ for Q1

Not as bad as estimated, however

Losses continue at THQ for Q1
It’s small consolation for THQ that its losses for the first quarter of 2009 weren’t as bad as analysts expected, as it’s 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 it’s 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 doesn’t 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.

It’s not a particularly bright future for THQ, but at least there does still appear to be a future.

Yes. Spanner's his real name. And, yes, he's heard that joke before.