* EPS of 15 cents per share vs. 11 cents Street view
* Revenue driven by "Homefront" sales-company
* First-quarter outlook misses estimates
* Shares fall 7 percent in after hours trading
(Adds forecast, analyst comment, share drop, byline)
By Liana B. Baker
NEW YORK, May 3 THQ Inc THQI.O, the video game
publisher behind titles such as "WWE SmackDown vs Raw," reported
revenue and forecast a first-quarter earnings outlook that missed
Wall Street expectations, sending shares down more than 7 percent
The company forecast earnings in the first quarter in the
range of a loss of 50 cents to 60 cents, which is below analysts'
consensus analyst of a loss of 6 cents per share, according to
Thomson-Reuters I/B/E/S. This first-quarter outlook disappointed
investors and sent shares lower on Tuesday, said Sterne Agee
analyst Arvind Bhatia.
The company said its sales for next year would be in the range
of $925 million to $1 billion, which is in-line with analysts'
average estimate of $935 million. It expects earnings per share
for 2012 to fall in the range of 25 cents to 40 cents, which falls
slightly short of the high end of the high end of analysts'
estimates average estimate of 41 cents per share.
On an adjusted basis for digital revenue, the company's
revenue increased 26 percent to $248 million from $197.6 million a
year earlier. This falls slightly shy of the $254.8 million
analysts were expecting, according to Thomson Reuters I/B/E/S.
THQ, like many video publishers, defers big chunks of the
revenue it generates from digital games and a spokesman said it
would generate this additional revenue over the next six months.
The company said sales for its fiscal fourth quarter ended in
March were driven by the first person shooter game "Homefront."
THQ said it shipped 2.6 million copies of the military-themed
On an adjusted basis for the deferred revenue from digital
games, the company's posted a profit of 15 cents per share
compared to 6 cents per share a year earlier and surpassing
analyst's estimates of 11 cents per share.
THQ shares were trading 7 percent lower at $3.83 in after
market trading. Earlier, shares closed at $4.12 in Tuesday's
(Reporting by Liana B. Baker, Editing by Robert MacMillan,