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

There are Angry Birds theme parks in several countries, including Finland, China and Spain
There are Angry Birds theme parks in several countries, including Finland, China and Spain

Finnish game maker Rovio Entertainment on Friday said sales of the sequel to its flagship Angry Birds game hit a new record as the group's profit and revenue in the second quarter beat analyst's expectations.

From April to June, Angry Birds 2 generated revenue of 29.7 million euros ($33.8 million), exceeding by 38 percent its previous record set the first quarter.

Rovio's for the quarter came in at 5.2 million euros, while revenues slid to 71.8 million euros. The drop was expected as results for the same period last year had been boosted by The Angry Birds Movie.

The figures were higher than what analysts expected, and Rovio's shares, listed on the Helsinki Stock Exchange since September, rose by 2.2 percent in afternoon trading.

The firm maintained its forecast for the full year of turnover of between 260 and 300 million euros, after 297 million euros last year.

In addition to video games, Rovio manages "Angry Birds" theme parks in several countries, including Finland, China and Spain.

It oversees the publication children's books about the famous birds in a dozen languages.


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Rovio's shares fly high on Angry Birds 2 success

© 2018 AFP

Citation: Rovio shares lifted as 'Angry Birds 2' sales fly higher (2018, August 17) retrieved 25 May 2019 from https://phys.org/news/2018-08-rovio-angry-birds-sales-higher.html
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