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Angry Birds maker Rovio gains ground as profits rise

Reuters  |  HELSINKI 

HELSINKI (Reuters) - 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 ...

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First Published: Thu, May 17 2018. 13:40 IST