THQ Realigns Studios To Emphasize Digital


Credit: VG Watchdog

THQ (NSDQ: THQI) is realigning several of its studios to emphasize its digital operations; the gaming company says two of its eight studios will now focus on developing digital titles based on “THQ’s core game brands and new original intellectual properties,” as well as “the implementation of a portfolio-wide community platform to connect consumers to all of THQ’s core games.” As part of the restructuring, THQ, which is behind games like 50 Cent: Blood on the Sand is cutting 60 more jobs (The company had already cut about 600 jobs last year).

THQ made the announcement on the same day it reported its quarterly earnings. The company posted net income of $542,000, or a penny per share, compared to a loss of $191.8 million, or $2.86 per share, during the same period a year ago. Revenue was flat at $357 million — matching analyst expectations.

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