Analysts are split on whether THQ (NSDQ: THQI) is poised to rebound, or still in decline—but the game publisher posted a $191.8 million net loss for Q4. That’s down $2.86 per share, in contrast to the previous year’s profit of $15.5 million and EPS of $0.23. Non-GAAP numbers were no better: a net loss of $9.6 million, or $0.14 per share in Q4, compared to a $26.4 million, $0.24 per share profit the previous year.

SEE ALSO: THQ Restructures Wireless Division; Will Focus On Smartphones And Layoff 100 Employees

—Revenues miss expectations: Like EA, holiday sales didn’t pump up THQ’s revenues as much as the company (or the Street) thought they would: revenues came in at $357.3 million, down almost 30 percent from $509.6 million in Q407. Wedbush Morgan analyst Michael Pachter rated the company’s stock a “Buy” on Tuesday, based on the consensus that revenues would come in at about $420 million, per GamesIndustry.biz; the investor note sent shares up by more than 12 percent, but the stock is down by 2 percent post-earnings.

—New CFO, more layoffs: THQ announced that Classmates.com exec Paul J. Pucino had joined as EVP and CFO, replacing former CFO Colin Slade; Slade had been on medical leave since November. The change comes as the publisher digs into its restructuring strategy—which includes scaled back game development, studio closures and layoffs. THQ upped the staff cuts to about 600 people—or 24 percent of its workforce—from the 250 layoffs it had announced during Q3’s earnings. The company now hopes to save $220 million by the end of its fiscal year 2010.

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