No shocker, because they told us it would happen last month: video game software maker THQ had decent holiday season sales, but profits dropped.
The company reported $509.6 million of Q3 revenue, beating the Street’s $503.3 consensus, and up 7% year-over-year. Leading sales: WWE SmackDown vs. Raw 2008, a pro-wrestling game.
Net income tumbled 75% from $62.1 million in 3Q06 to $15.5 million, or 23 cents per share, last quarter, including a $27 million write-down for cancelling some projects, and $20 million in accelerated amortization expenses.
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