THQ losses widen but revenues up

THQ has reported a first quarter loss of $27.2 million, almost three times that of the $9.3 million loss reported during the same period last year.

Despite this, revenue for the firm has risen 32 per cent from $104.5 million to $137.6 million.

The firm said during a conference call that the loss was down to lower than expected sales of Pixar movie tie-in Wall-E.

THQ has lowered its fiscal year sales expectations to be between $1.15 billion to $1.18 billion.

According to Reuters, THQ’s CEO Brian Farrell said: "We expected Wall-E to exceed Ratatouille, but it has not exceeded it by as much as we expected and our new advised forecast reflects that.”