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THQ Reports Losses, Delays CoH 2, Metro: Last Light & South Park Game

THQ financial troubles continue, as the company seems to be running out of money, as noted in THQ's fiscal 2013 Q2 results.

"Clearly, THQ faces a number of opportunities and challenges," THQ's Brian Farrell said in a recent financial report. "We also face challenges operating with limited capital resources in the highly competitive market for games, and we are working diligently to resolve those challenges."

In addition, the publisher was forced to push back the release of three much anticipated games, including South Park: The Stick of Truth (currently in development at Obsidian), which is now slated to launch worldwide during early fiscal 2014. The game was initially planned for release on March 5, 2013.

March is now the launch window for Company of Heroes 2 and Metro: Last Light, both of which were planned to be in stores earlier.



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7 post(s)
Reader Comments
IcedEarth Nov 06 2012, 07:43 am EST
Surely the best way to generate revenue is to push back the releases of several major products.
Doomsday. Nov 06 2012, 09:29 am EST
I want Dawn of War 3!!
LostPcGamer Nov 06 2012, 11:39 am EST
THQ might not have the money to ride out those delays. The company has already drawn $21 million from its line of credit and its cash reserves are down to $36 million.

It has tapped Centerview Partners to help it raise capital and address the August 2014 due date of its $100 million 5% convertible senior notes.

That sums up why there delayed as there cash reserves are almost gone. Not looking good.
Vodoo Nov 06 2012, 12:17 pm EST
maybe if the guys at Vigil had done a better fucking job at making Darksiders 2.
Terminator Nov 06 2012, 01:55 pm EST
THQ is in a heap of trouble. I wonder if EA or Activision will buy them.
KraGeRzR Nov 06 2012, 02:44 pm EST
Poor THQ... Why can't it be EA that's going belly up and not them.
Breedy_Mcfluff Nov 06 2012, 11:17 pm EST
Gives the developers more time to clean up any messes made, so that is at least a somewhat silver lining.
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