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Saints Row Helps THQ Shares Soar

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Posted on April 18, 2012 AT 08:36am

THE BUZZ: THQ’s shares have risen sharply today as the company expects to announce better fiscal fourth-quarter (January – March) figures than previously estimated.

The company is now expected to announce fourth-quarter sales of $160-170 million, considerably higher than the previous forecast of between $130-150 million. THQ will now only see a loss of 10-20 cents per share instead of the 35-50 cents that was expected.

THQ said that several factors have influenced these improved figures. Saints Row: The Third was the major catalyst, shipping over 4 million copies and enjoying better than expected digital sales. Slightly higher than expected sales of UFC Undisputed 3 also helped the publisher.

Earnings of $76 million are expected to be reported for the quarter, three times higher than previously estimated, thanks to higher sales, particularly with DLC. THQ is set to publish its full financial results May 15.

Shares are currently trading at around 65 cents, which is an increase of 45 percent.

EGM’s TAKE: This is great news for THQ and its investors. The company was struggling at the beginning of the year, had to cut jobs and was even threatened with a stock exchange de-listing. Saints Row was a major success story for them and sold a lot more copies than expected, which was deserved considering how good it was, and the lack of open-world sandbox titles at the time. Hopefully the publisher can build on this success with its future titles and this allows the company to a move out of the slump it’s been stuck in.

Matthew Bennett, Associate Editor
Matthew Bennett has only been covering the gaming world for a short while, but he’s eager to make his mark. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Follow him on Twitter @mattyjb89. Meet the rest of the crew.

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