THQ tells Reuters more confident about turnaround, shares jump

The CEO of video game maker THQ Inc exclusively told Reuters on June 3 he is more confident now of returning to profitability by fiscal year 2010. After posting an operating loss last year, the company had recently said it expects to post an operating profit this year. At the E3 video game conference in Los Angeles, CEO Brian Farrell told Reuters that now, two months into the fiscal year, he has a lot higher level of confidence about that profit outlook. Shortly after Reuters headline on Farrell’s comments, THQ shares jumped, climbing to a gain of 7.2 percent. Before the headline, the shares were down 1.5 percent on Nasdaq.