Angry Birds Maker Rovio Gains Ground As Profits Rise

24

HELSINKI – Rovio Entertainment, the maker of the “Angry Birds” mobile games and movie, posted better than expected quarterly profit on Thursday, representing a fillip to investor confidence dented by a dramatic profit warning in February.

The Finnish company’s recent troubles have stemmed from tough competition and increased user-acquisition costs, as well as high dependency on the Angry Birds brand that was first launched as a mobile game in 2009.

However, adjusted operating profit in the first quarter of 2018 roughly doubled year on year to 10 million euros ($12 million), with Rovio citing growth in its top games and lower marketing costs.




Leave a Reply

Your email address will not be published. Required fields are marked *