Sony took a few big financial hits recently which caused the company to revise its financial results for the 2010 fiscal year that ended on March 31, 2011. When Sony releases its financial results on Thursday, it will report a huge net loss.

Today Activision released its financial results for the first quarter of 2011 which ended on March 31, 2011. Unsurprisingly, Activision has had another successful quarter. Activision made $1.4 billion in revenue in comparison to $1.3 million one year ago. Half of Activision’s revenue for this quarter came from digital content. Money brought in from digital content increased by $100 million. Call of Duty: Black Ops has a lot to do with that success.

GameStop’s pockets have gotten even deeper. The company announced earnings for its fourth quarter which ended on January 29, 2011. GameStop’s sales totaled $3.69 billion, while its earnings increased to $237.8 million. Both of these margins increased compared to last year. GameStop is doing so well, the company will expand in 2011.

THQ revealed its financial results for its fiscal third quarter today (February 2, 2011). THQ reported net sales of $316.6 million over the three month period which ended on December 31, 2010. This resulted in THQ having a net loss of $14.9 million, compared to last year when THQ had $542,000 in net income. During that time, THQ decided that it wasn’t going to release WWE Online or Company of Heroes Online for Asian territories like it originally intended.

Industry analyst Michael Pachter thinks Nintendo’s stance to put off a successor the the Wii is the one of the main reasons why sales are decreasing. Pachter also states that the Wii game to console ratio falls at about 2 to 1. This means the average customer is not buying more than two games Wii games per yer.

EA’s Q3 earnings report yielded a wide array of news yesterday. In addition to all the big numbers being thrown left and right, a lot of game announcements were made too. EA’s 2011 fiscal year ends March 31, 2011 so these games are expected to be on store shelves by then.

Just before Electronic Arts went on a conference call on December 9, 2008, the company announced it would be “continuing to pursue cost saving initiatives including a reduction of its product portfolio for fiscal year 2010 with additional associated headcount reductions and facility consolidations.”

E.A. CEO, John Riccitiello, was quoted in the announcement saying:

While we saw significant improvement in the overall quality of our key products this year, we are disappointed that our holiday slate is not meeting our sales expectations. Given this performance and the uncertain economic environment, we are taking steps to reduce our cost structure and improve the profitability of our business.

During the conference call, Mr. Riccitiello revealed that 17 games released in 2008…

After posting a $76 million loss in revenue for the third quarter, Midway has been issued a delisting notice from the New York Stock Exchange. According to GameSpot UK, the notice came after the struggling developer failed to close above $1 a share, the minimum required closing price for the New York Stock Exchange, within 30 days of trading.

In order to avoid being delisted, Midway must…

Microsoft Gaming reported a $1.89 billion loss for the fiscal year ending in June 2007. Yeah you read that right, I said billion. You know, nine zeros. This is an increase of 47% from last year’s $1.28 billion operating loss. Even as I sat there reviewing the information in shock, my drink mysteriously caught in limbo between coaster and mouth, I figured out the cause before I read it, unreliable hardware! (Did somebody say red lights?) Though the gaming giant saw $6.08 billion in annual revenue it still wound up in the hole for the year, attributing the loss primarily to …