Midway continues to lose money in latest financial report

Posted Aug 5th 2008 8:00AM by John Callaham
Filed under: Biz

Game publisher Midway fired its CEO earlier this year and more recently shut down its LA studio, but so far the company has yet to turn a profit in some time. This week Midway announced it's latest financial results for the quarter that ended June 30 and . . . well, it's the same old, same old. The company's revenues were $23.4 million, down from $31.8 million for the same period a year ago. Midway records a loss of $34.8 million, which was over twice the amount it lost at the same time a year ago when it recorded a loss of "just" $14.3 million.

Earlier this year Midway had plans to release five major titles for the competitive fall/holiday 2008 time period but since then two of those projects, Wheelman and This is Vegas, have been pushed back to 2009. Both of those games were scheduled for the PC platform which means Midway won't have any PC titles for release this fall.

Tags: midway, this-is-vegas, wheelman

Reader Comments (Page 1 of 1)

Geeze, no wonder Midway is losing money; I just looked up what games they have put our recently. Besides MK and Unreal they pretty much got nuthin'. I don't like to see any company in the industry sinking but with a portfolio like they have, well... we can't really be surprised. I guess I shouldn't be too harsh since they had a few narrow misses like Blacksite, the suffering, and psi-ops but when they give us steaming piles of wretch like Hour of Victory, it is hard to feel bad.

Hopefully they can see the error of their ways and strengthen their library with solid and innovative games in the future.

...bysmittyPosted at 9:38AM on Aug 5th 2008 by bysmitty

This doesn't suprise me in the slightest. Just got done playing through Blacksite, and technical faults aside, the game was lackluster is every possible way.Posted at 12:01PM on Aug 5th 2008 by RobbieL

Tell me about it, Ive been done before as well and the technical faults are an absolute nightmare.

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http://www.gimme4free.net/Posted at 5:03AM on Aug 6th 2008 by http:www.gimme4free.net