Rovio reports a 160 per cent jump in second-quarter profits

Stefan Mileschin · 15th August 2020, 05:03

Angry Bird-flu

Rovio Entertainment, maker of the 10 year old “Angry Birds” mobile game series reported a 160 percent jump in second-quarter adjusted operating profit, helped by increased player engagement amid COVID-19 lockdowns.

“We reached record high games revenue driven by the strong performance of our key games”, CEO Kati Levoranta said in a statement.

Adjusted operating profit rose to 13.8 million euros from 5.3 million while revenue fell 3.6 percent to 69.2 million euro due to lower movie revenue the outfit said.

The company attributed the improved performance to “increased player engagement due to COVID-19” as well as lower marketing costs.

“The overall impact of COVID-19, which was visible in a higher level of downloads, daily active users and player engagement, peaked in late April”, Levoranta said.

In August 2019, Rovio released a sequel to its successful Angry Birds movie but its movie revenue declined in the second quarter of 2020.

However, Rovio said “Angry Birds Movie 2” was among the most watched movies on Netflix during the spring.

https://fudzilla.com/news/gaming/513...uarter-profits

15th August 2020, 05:03	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 152,472	Rovio reports a 160 per cent jump in second-quarter profits Angry Bird-flu Rovio Entertainment, maker of the 10 year old “Angry Birds” mobile game series reported a 160 percent jump in second-quarter adjusted operating profit, helped by increased player engagement amid COVID-19 lockdowns. “We reached record high games revenue driven by the strong performance of our key games”, CEO Kati Levoranta said in a statement. Adjusted operating profit rose to 13.8 million euros from 5.3 million while revenue fell 3.6 percent to 69.2 million euro due to lower movie revenue the outfit said. The company attributed the improved performance to “increased player engagement due to COVID-19” as well as lower marketing costs. “The overall impact of COVID-19, which was visible in a higher level of downloads, daily active users and player engagement, peaked in late April”, Levoranta said. In August 2019, Rovio released a sequel to its successful Angry Birds movie but its movie revenue declined in the second quarter of 2020. However, Rovio said “Angry Birds Movie 2” was among the most watched movies on Netflix during the spring. https://fudzilla.com/news/gaming/513...uarter-profits

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