THQ breaks $1 billion

Publisher reports its best annual sales figures and net profits yet, lays out plans and projections for coming year.

THQ reported its financial results for the fiscal year ended March 31 today, and the company posted record revenues that topped $1 billion. It was the 12th consecutive year that the publisher grew its annual revenues, and it put up similarly record-breaking profits of $64 million to boot.

THQ's highlights for the year included the release of Saints Row on the Xbox 360. The original intellectual property and open-world action game racked up more than 1 million units in sales. In all, the publisher saw eight titles ship more than 1 million copies for the year, led by Cars (nearly 8 million shipped) and WWE SmackDown! vs. RAW (4 million shipped).

On its own, the fourth quarter was similarly positive for the publisher. For the first three months of the calendar year, THQ raked in $172 million (up 16 percent year-over-year) in sales, and nearly $6.5 million in profit. In the fourth quarter of its previous fiscal year, the publisher lost more than $8.6 million. Anticipated new releases Supreme Commander and S.T.A.L.K.E.R.: Shadow of Chernobyl drove sales during the three months, and helped the company's PC lineup account for 30 percent of its quarterly revenue.

Licensed games still account for the majority of THQ's revenues, but president and CEO Brian Farrell said in an investor conference call that the company was making progress internally developing wholly owned IPs.

"We currently expect a third of net sales from owned properties in fiscal 2008, up from approximately 20 percent in fiscal 2007," Farrell said. "Our revenue from owned IP will be driven primarily by the launch of two new THQ products, Frontlines and Stuntman, and sequels to proven brands such as Juiced, MX vs. ATV, and Company of Heroes."

Farrell also laid out the company's strategy to reach customers with divergent tastes, saying THQ would focus on the Xbox 360, PlayStation 3, and PC to reach "core gamers," while saving mass market brands for the Wii, PlayStation 2, and DS. However, some titles--like WWE and Pixar games--will appear on "all viable platforms." Farrell also mentioned that the company had 11 games planned for the Wii in its next fiscal year, including some original content exclusive to the system.

In other THQ news, the company today also confirmed the development of a Saints Row sequel for the Xbox 360 and PS3, the cancellation of an announced Saints Row port for the PS3, and the delay of Frontlines: Fuel of War to January 2008.

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134 comments
wookie8
wookie8

saints row waz crazy saintz row 2 outragious

felshs
felshs

WOW i wish i have 1/1000 of that 1 billions dollar :((

Eggie37
Eggie37

THQ IS AN AWSOME DEVELOPER U NINCOMPOOP.. SAINTS ROW ROCKS

HK-47-M4
HK-47-M4

THQ is the worst developer ever.

rustednail56
rustednail56

omg coh,stalker,supcom?!?!?!?!?!?! THQ is dominating

jjshocker88
jjshocker88

i hope my parents let me have this game

frogiggy323
frogiggy323

Hmmm... Can Saints Row 2 live up to the hype after GTA IV? Or was Saints Row just next Gen luck? Who knows either way Saints Row is really fun though.

theKSMM
theKSMM

I'm glad to see THQ trying to balance out their license-heavy portfolio with some original IP. It's probably not easy to see a game do well only to have to fork over a big fat check to Pixar or Nickelodeon at the end of the quarter.

scarfface
scarfface

This is the best game I have ever played

chico129
chico129

But they did publish it ;)

Lonelynight
Lonelynight

Relic mad Dawn of War and Company of Heroes not THQ.

Sandman100
Sandman100

Way to go THQ I hope Saints Row 2 will do even better then the first

wenbin09
wenbin09

put more resources into making fantastic game to reward the gamers!

bumhaed100
bumhaed100

Way to go THQ I hope Saints row 2 will do even better then the first:)

Braelen
Braelen

will u be able to play wit the same person on the 1st one, i want revenge fo what Julius did that damn trader!!!!!

BaldursGate18
BaldursGate18

THQ seems to be the only company which releases good p.c titles I hope they can keep it up with the COH:Opposing force and Frontline:Fuel of war(sucks it's been pushed back ,but I'm still looking forward to it) :)

H-E-F
H-E-F

wow...amaze...wow

kappareign
kappareign

wow, didnt think THQ was doing as well as they use to... im surprised

kappareign
kappareign

wow, didnt think THQ was doing as well as they use to... im surprised

freyuk
freyuk

Looks like supporting Stalker was not a bad move after all. Hope they keep supporting risky and innovative projects, that is good for us.

nazraq
nazraq

i'm glad to see thq doing well. the pc needs more publishers support

jacky531
jacky531

this is really good for THQ.

Taylorcallow
Taylorcallow

Good For Them They Make some of the best games anyway

bloodyrooster
bloodyrooster

warhammer 40k mmo, that's all that's important from THQ

thephoenix365
thephoenix365

well they deserve it for Company of Heroes alone in my opinion!

Humorguy_basic
Humorguy_basic

But when is the next PC game.............? This year? Or next? Sometimes you need a little quantity or the quality will disappear in the deserts created between distant PC game releases.

LexLas
LexLas

Wow! Now that is worth celebrating ! I hear bonus checks coming ! All I have to say is Congratulations !!

jord121290
jord121290

Crush_Project, wtf, how many posts do ya need??

PSPZero
PSPZero

Good News for THQ, just hope they bring on WWE games more better

Crush_Project
Crush_Project

too bad the more money video game companies make these days the more they let their products slide. i hate corporations....

Crush_Project
Crush_Project

too bad the more money video game companies make these days the more they let their products slide. i hate corporations....

gagan21
gagan21

I enjoyed the first one :) ,Saints Row 2 is gonna be awesome , lets hope they add some bikes and planes in saints row 2 :wink:

madman666
madman666

ohh god saints row 2, its going to copy GTA IV

Crush_Project
Crush_Project

too bad the more money video game companies make these days the more they let their products slide. i hate corporations....

Crush_Project
Crush_Project

too bad the more money video game companies make these days the more they let their products slide. i hate corporations....

Crush_Project
Crush_Project

too bad the more money video game companies make these days the more they let their products slide. i hate corporations....

Crush_Project
Crush_Project

[This message was deleted at the request of a moderator or administrator]

drangel_jam
drangel_jam

I'm very proud of them. Now, hurry up and publish the next real-time strategy war-fare game, Full Spectrum Warrior 2 or whatever you want to call it.

galerian86
galerian86

good year for thq....stalker was awesome to me

vitz3
vitz3

THQ has been putting out some quality games in the past few years. They deserve it simply because there finally is a publisher that realizes that good games = good sales. 'Bout damn time.

ftjx
ftjx

S.T.A.L.K.E.R. was awesome yes, but with no vehicles, no race to the finish and no text on ingame dialogue + the dreaded story driven text messages. This kind of money makes these faults inexcusable. That game needs a remake, an expansion and a sequel.