Pandemic helps Angry Birds maker's profits take wing

The two Angry Birds feature movies have also helped drive revenue for Rovio
The two Angry Birds feature movies have also helped drive revenue for Rovio

Finland's Rovio reported Friday that quarterly game revenue climbed to a record 66.9 million euros ($79 million) as people stuck in coronavirus lockdowns spent more time playing its leading title Angry Birds.

That helped drive a nearly three-fold increase in second quarter operating profit to 14.1 million euros at the developer of mobile games centred on belligerent fowl.

Rovio's most popular , Angry Birds 2, saw a 15 percent increase in revenue on the previous quarter to 28.8 million euros, up nine percent year-on-year, as the pandemic confined millions of people around the world to their homes in spring.

"The overall impact of Covid-19, which was visible in a higher level of downloads, daily active users and player engagement, peaked late April," CEO Kati Levoranta said in a statement, adding that these levels started returning to normal from May onwards.

The firm did not issue full-year guidance but said it aims to launch up to three new games this year, including the narrative puzzle game Small Town Murders released in June.

The first half of the year also spurred the firm's other , with The Angry Birds Movie 2 among the most watched films on Netflix during the spring, Rovio said.

The original film, in 2016, helped revive the game-maker's fortunes after Rovio laid off one-third of its employees in 2015.

Rovio's share price rose around six percent in early afternoon trading on the Helsinki stock exchange, reaching its highest level since August 2019.


Explore further

Rovio shares lifted as 'Angry Birds 2' sales fly higher

© 2020 AFP

Citation: Pandemic helps Angry Birds maker's profits take wing (2020, August 14) retrieved 28 October 2020 from https://techxplore.com/news/2020-08-pandemic-angry-birds-maker-profits.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
5 shares

Feedback to editors

User comments