THQ reported better than expected finances for the first quarter.
The company ended the quarter with $133.7 million in sales and an income of $15.4 million. To get to that number, though, the company had to close studios, hire new execs, sell UFC rights and have a number of layoffs, as well as the reverse stock split.
“We have made significant progress reshaping the company,” said CEO Brian Farrell. “With the changes implemented over the last several months, we are in a much better position today to deliver on our pipeline of games, beginning with Darksiders 2, which launches next week in North America.”
In addition, it was reported that the Insane trilogy by Guillermo del Toro will no longer be produced by THQ. Originally, the game was being developed by Volition, who is working on the sequel to Saints Row.
THQ told Joystiq that “no teams/staff are affected by this decision” and that del Toro has the rights to sell the game to another company.