The company reported profits of $2.8 million (7 cents per share), far exceeding the $860,000 (3 cents per share) it reported last year and meeting analysts' expectations for the quarter. Revenue also climbed sharply, up 34 percent over last year to $79.7 million.
On a side note, THQ's CEO, Brian Farrell, opined that the Xbox was not selling well overseas, and suggested that Microsoft should drop the console's price in those regions. For several weeks there have been rumors about a possible forthcoming Xbox price cut overseas, but Microsoft has declined to comment on the subject.
THQ cited WWF Raw
for the Xbox, Sonic Advance
for the GBA, and SpongeBob SquarePants: Super Sponge
and RocketPower: Team Rocket Rescue
for the PS2 as standout titles during the quarter. According to NPD TRSTS data, THQ was the top independent publisher of video games in the U.S. for the Game Boy Advance.