THQ has lowered its earnings forecast for the third quarter of the 2012 fiscal year, citing underwhelming sales of its recently multiplatform uDraw tablet.
THQ CEO Brian Farrell explained in a press release, “Despite uDraw’s strong success on the Wii in fiscal 2011 and market research indicating strong demand for uDraw on Xbox 360 and PlayStation 3, initial sales of our uDraw tablet and software on these high-definition platforms have been weaker than expected.” As a result, the company is lowering its original sales guidance of between $510 million and $550 million by “approximately 25 percent,” which is a large number of millions (at least $127.5 million).
We’ll know how poorly the device did when third quarter results drop next February. Until then, Farrell assures investors that “WWE ’12 and Saints Row: The Third are expected to perform at or better than the levels we discussed on our fiscal 2012 second quarter earnings call.” We guess folks are just more into simulated violence and genuine bonersword violence than they’re into drawing things with their kids.
uDraw hasn’t fared so well on Xbox 360 and PS3, THQ lowers its forecast originally appeared on Joystiq on Thu, 08 Dec 2011 01:00:00 EST. Please see our terms for use of feeds.
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