THQ shows signs of recovery
Publisher enjoying some respite from tough times as stock jumps 15% in 2 days
THQ has seen its share price rise by almost 15 per cent in the past two days, moving from USD 7.54 to USD 8.65 by the close of the US markets yesterday.
The movement is likely a result of strong sales of two of its recently-released titles, with UFC 2009: Undisputed spending two weeks at the top of the UK chart, only knocked off the summit by The Sims 3 and other THQ title Red Faction: Guerilla.
Indeed, Cowan analyst Doug Creutz believes that year-on-year sales for the company will increase by 199 per cent, including PC sales, based on estimates that 500,000 units of Undisputed sold in May, in the US alone.
The publisher has struggled in the past year with falling revenues, and underwent a series of cost-cutting measures in the last six months to streamline operations.
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