FILE PHOTO: Angry Birds game characters are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. Picture taken March 13, 2019. REUTERS/Anne Kauranen
HELSINKI (Reuters) – Rovio Entertainment (ROVIO.HE), maker of the 10-year-old “Angry Birds” mobile game series, on Tuesday reported an almost 75% rise in first-quarter profit, helped by lower costs.
The Finnish company, which listed its shares in 2018, said its adjusted operating profit rose to 13 million euros ($14.1 million) from 7.5 million while revenue fell 6% to 66.6 million euros.
“The high operating profit of the quarter was driven by the low level of user acquisition and the stability of our key games, especially Angry Birds 2,” Chief Executive Kati Levoranta said in a statement.
Levoranta said it was too early to quantify and distinguish the impact of the corona pandemic for its business.
“In our games, we have seen an increase in the number of downloads as well as user engagement and also some uptick…
Source Reuters Tech News
Source link
