Midway reports $76m in losses for Q308, pins Q4 hope on MK vs. DC Universe

For its third fiscal quarter of 2008, Midway has reported net losses of $75.9 million, more than twice the $33.5m net loss in Q3 2007. According to the press release, the publisher cites three "well-received games" as highlights for its third quarter: TNA iMPACT, the Xbox 360 launch of Unreal Tournament III and Mortal Kombat: Kollection for PS2.

As for the fourth quarter (i.e. the lucrative holiday season), Midway has two flagship titles to boost revenue: Blitz the League II (already released to mediocre reviews) and next week's Mortal Kombat vs. DC Universe. For Q408, Midway expects net revenue of $105 million, or approximately half of its annual revenue, with more losses to follow and an underwhelming 2009 lineup (This is Vegas, Wheelman and TNA). The publisher, now under new management, looks to have a rather steep uphill battle -- or using Midway's own Mortal Kombat metric, it'll be at least 4 more contenders before they get to challenge Goro.

This article was originally published on Joystiq.