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Earnings: Sales At THQ Wireless Unit Stalling

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image Troubled games publisher and developer THQ (NSDQ: THQI) reported earnings yesterday, and it was not a pretty picture. The company posted a $191.8 million net loss for the three months ended December 2008, what they call their third quarter 2009 earnings. Its revenues were down nearly 30 percent year on year to $357.3 million, from $509.6 million in the same period last year. Wireless earnings are also beginning to slide. Its wireless unit posted $5.9 million in sales during the quarter, climbing 12.4 percent from the same period a year ago, but slipping 4.6 percent from the $6.2 million in revenues it reported in the previous quarter. Wireless sales made up a mere 1.7 percent of overall revenue, compared to the third quarter where it made up 2.1 percent of sales.

THQ