CALABASAS HILLS, Calif.-The growing popularity of wireless gaming helped publisher THQ Inc. generate a record $400 million in sales during the third quarter of fiscal year 2005, up 37 percent over the previous year, the company said Tuesday.
THQ, which develops and distributes games for consoles, PCs, handheld devices and mobile phones, said wireless titles accounted for nearly 3 percent of overall game sales during the quarter that ended Dec. 31. Mobile games accounted for a mere 1 percent of sales during the same quarter the previous year.
The company also upped projections for subsidiary THQ Wireless during fiscal-year 2005, increasing expected revenues from $20 million to $25 million. THQ’s licensed offerings include games based on “Finding Nemo,” “The Incredibles” and “WWE SmackDown.”
“Our performance during the holiday quarter far surpassed our original expectations in all major markets,” said Brian Farrell, THQ’s president and chief executive officer. “The combination of sound strategic positioning for the holidays and solid execution in a highly competitive market drove our exceptionally strong results for the period.”
The announcement, which came after Tuesday’s closing bell, sent THQ stock skyward Wednesday. The Nasdaq-listed stock was up 23 percent mid-day, trading at $28.21.
