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Suddenly, Amazon Doesn't Love Its Moms Anymore
To say that earnings for THQ (NASDAQ: THQI) were bad is like saying that the United States has a little problem with its banking system. Did you see the publisher's latest report? Net sales on a non-GAAP basis for the third quarter fell substantially to about $357 million. Net loss on an adjusted basis was $0.14 per share. According to this source, the call was for a profit of $0.07 per share. Wow, were the analysts surprised on this one! Of course, can you blame them? I mean, this was the holiday quarter, after all. THQ should have done a little better.
I guess all those Sony (NYSE: SNE) PlayStation 3s and Microsoft (NASDAQ: MSFT) Xbox 360s and Nintendo (OTC: NTDOY) Wii consoles sold during the holiday didn't mean a thing for THQ. This publisher is starting to look a lot like the Titanic. I'm not saying it's going to disappear anytime soon, but when you decide to eliminate well over 20% of your workforce and cannot offer any kind of outlook, then you're in trouble.
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