THQ posts a quarterly loss
Video game publisher THQ has come out with their latest revenue report and the company has posted a big quarterly loss.
THQ said that the sales went down drastically. The company also declined to provide an outlook for the current quarter.
The company further announced that they are now going to cut 600 jobs in fiscal 2010 and reduce spending by $220 million.
THQ Chief Executive Brian Farrell added: “Our focus for next fiscal year is to return to profitability and to generate cash. Our fiscal 2010 plan will reflect the benefits of our focused product strategy and strong actions on costs.”
The company has also now named Paul Pucino as their new chief financial officer. He takes over from Colin Slade who is on indefinite medical leave.
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