Midway reporting profit losses

Midway was recently added to the list game-related companies reporting profit losses. Following suit with companies including Sony, Midway, the Chicago-based gaming giant behind Mortal Kombat, Area 51 and Unreal Tournament, has been losing money, too.

The New York Times reported that, according to the company, “The loss was $75.9 million, or 83 cents a share, compared with a loss of $33.5 million, or 37 cents a share, a year earlier.” This missed last month’s predicted losses of $0.70 per share. New York Times reported that the way they missed this prediction was by write-downs for game development costs.

One of the reasons that could have caused the losses is either the current economic woes. Another reason could be piracy.

Either way, Midway has gone through similar rough spots in the past and followed suit with even bigger profits. Let’s hope that Midway can weatehr this downturn as well.

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