Rovio Posts Profit Jump

  • General
  • October 30, 2020
  • 2
  • 4 minutes read

 

Kati Levoranta, CEO, Rovio.
Photo credit: Friends of Europe, licensed under CC BY-NC-ND 2.0

Rovio, the Finnish video game developer best known for its Angry Birds franchise, has reported a 138% year-over-year jump third-quarter adjusted operating profit, coming at €12.8 million ($15.1 million) from €5.4 million ($6.3 million) a year earlier. Rovio was buoyed by lower marketing costs and stable revenue during the quarter.

Rovio has updated its full-year outlook, stating that it expects its adjusted operating profit margin to “improve significantly” from last year’s 6.3%. Revenue for the year is expected to be slightly lower than last year’s €289.1 million ($337.5 million).

Rovio continues to be held up by its most popular franchise, with revenue from the company’s biggest game Angry Birds 2 growing annually. Small Town Murders, its newest game which was released in June this year is gaining momentum and has been localized to 10 new languages.

This year would mark the last of Rovio’s CEO Kati Levoranta who took up the role in January 2016. She’ll be leaving at the end of this year to be replaced by a yet unnamed successor.



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