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THQ: Great Earnings, Bad Guidance
By Steven Mallas
May 5, 2005

Jeff Hwang covered Electronic Arts' (Nasdaq: ERTS) earnings bomb yesterday; the entertainment-software publisher got mercilessly tackled like one of the digital football players in its Madden franchise, reporting a drop both in revenues and GAAP income. To make matters worse, the company looked downfield and saw a loss coming up for next quarter. After such a negative report from EA, the video-game industry's 800-pound gorilla, investors were probably shaking in their boots as they awaited results from THQ (Nasdaq: THQI). Thankfully, a look at THQ's press release should calm the nerves of any quivering spectator. However, it shares one important failing with EA, which I will talk about in short order...
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