THQ is riding the success of
WWF Smackdown! to a profitable first quarter as most the industry screams of a slowdown. Revenues for the quarter were $70.4 million, while earnings reached $4.7 million. Though the results are below last year's first quarter revenues of $78.8 million and earnings of $9.5 million, the numbers still beat analyst expectations. The company credits strong sales of titles based licensed properties like
Rug Rats and North American and UK chart topper
WWF Smackdown! THQ plans to build on this success by expanding its WWF franchise online with
WWF With Authority and by developing new licenses including
Scooby Doo and
Power Rangers.
