THQ Falls in Late Trading After Profit Outlook Misses
THQ Inc., maker of the “WWE” video games, fell 15 percent in extended trading after the company’s forecast for the current quarter fell short of analysts’ estimates.
THQ, based in Agoura Hills, California, declined as much as 97 cents to $5.44 after issuing the forecast and reporting third-quarter results. The shares gained 40 cents to $6.41 in regular Nasdaq Stock Market trading.
THQ said it expects earnings per share in the current fourth quarter of 5 cents to 15 cents, excluding some items. Analysts predicted 34 cents, the average of estimates in a Bloomberg survey.
The forecast reflects the company’s decision to move the release of its “UFC Personal Trainer” fighting game into fiscal 2012, as well as expected sales of licensed games based on kids’ movies, THQ said in a statement.
Evan Wilson, an analyst with Pacific Crest Securities in Portland, Oregon, earlier in the day raised his rating on the stock to “outperform,” citing THQ’s future lineup of game titles appealing to all ages.
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