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Xbox 720, PS4 represent 'tremendous opportunity', claims THQ

New console cycle can "transform" troubled publisher, says boss

The seemingly inevitable arrival of next-generation consoles from Sony and Microsoft represents a "tremendous opportunity" for publishers such as troubled THQ, the firm's said.

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Speaking to investors following the announcement of a £35m net loss in Q3, THQ CEO Brian Farrell claimed that a new console cycle represents both a risk and opportunity to "transform" the company.

"I agree that as we approach a potential new console cycle it does introduce an element of risk. Another way to think about that is it does present a tremendous amount of opportunity," he said.

"The best time to establish new IP is near the beginning of a new cycle and we think that can provide a tremendous opportunity for the transformation of THQ."

The publisher, which yesterday announced the loss of 240 jobs, reported better than expected performances from core games, offset by poor results for the uDraw.

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