Rovio Entertainment Returns Profit Through 'Angry Birds'

By : Dina Astria And Aldo Bella Putra | Saturday, May 19 2018 - 19:00 IWST

Game mobile Angry Birds, oleh Rovio Entertainment. (Source: CNN Money)
Game mobile Angry Birds, oleh Rovio Entertainment. (Source: CNN Money)

INDUSTRY.co.id - Jakarta - Rovio Entertainment, a Finnish video game company has posted a profit in the first quarter, which is better than analyst projections. Rovio is experiencing great competition for users and the company's dependence on the Angry Birds game, which was first launched in 2009.

Rovio managed to make a profit of 10 million Euros or about US $ 12 million. This number has doubled from the previous year in the same period.

Quoted by Reuters, Rovio has grown at a lower cost of recall. While in terms of sales, Rovio has decreased by 1 percent to 66 million Euros.

With this proud achievement, Rovio's stock also rose by 5.6 percent and was able to recover some 50 percent decline after profit received in February.

"Quarterly projection is difficult for gaming companies because the cost fluctuates significantly between the quarters," said OP Bank analyst Hannu Rauhala.

In recent months, Rovio spelled a crisis for announcing the departure of Head of Game and Head of Investor Relations while cutting the salaries of some of the top brass.

Rovio Entertainment hopes Angry Birds sequel film can boost business next year. Rovio has also increased investment in the Hatch spin-off company, which is building a Netflix-style streaming service for mobile gaming.

News Comment

Today's Industry

President Jokowi at the handing over of the COVID-19 Pandemic Handling Award, at the Dhanapala Building, Ministry of Finance, Jakarta, Monday (20/03/2023). (Photo: Public Relations of Setkab/Jay)

Senin, 20 Maret 2023 - 16:40 WIB

President Jokowi Gives Appreciation for the Contribution of Various Parties in Handling the COVID-19 Pandemic

RI President Joko Widodo (Jokowi) presented awards to various parties who have contributed and worked hard in efforts to deal with the COVID-19 pandemic in the country. 

the Oath Ceremony of Anwar Usman and Saldi Isra as Chair and Deputy Chief Justice of the Constitutional Court (MK) for the 2023-2028 Term of Office, Monday (20/03/2023). 

Senin, 20 Maret 2023 - 14:59 WIB

President Jokowi Attends the Oath Ceremony of the Chief and Deputy Chief Justices of the Constitutional Court for the 2023-2028 period

Indonesian President Joko Widodo (Jokowi) attended the Oath Ceremony of Anwar Usman and Saldi Isra as Chair and Deputy Chief Justice of the Constitutional Court (MK) for the 2023-2028 Term of…

Hitachi Vantara

Senin, 20 Maret 2023 - 13:40 WIB

Hitachi Vantara Raises Bar for Object Storage Performance, TechTarget’s Enterprise Strategy Group Technical Review Shows

Hitachi Vantara, the modern infrastructure, data management and digital solutions subsidiary of Hitachi Ltd. (TSE: 6501), today announced results from TechTarget’s Enterprise Strategy Group…

(Photo: © 2023 KRAIBURG TPE)

Senin, 20 Maret 2023 - 12:16 WIB

KRAIBURG TPE to Launch New Automotive Interior Surface TPE Solutions for the Asia Pacific Market

THERMOLAST® K FG/SF/AP, which will be unveiled at CHINAPLAS 2023, is a game changer for innovative automotive interior applications in Asia Pacific.

President Jokowi accompanied by Cabinet Secretary Pramono Anung when inaugurating the Banjarbakula SPAM, Friday (17/03/2023), in Banjarbaru City, South Kalimantan. (Photo: Public Relations of Setkab/Jay)

Sabtu, 18 Maret 2023 - 15:26 WIB

Inaugurated by President Jokowi, Banjarbakula SPAM Supply Drinking Water to 60,000 Homes

RI President Joko Widodo (Jokowi) inaugurated the Banjarbakula Drinking Water Supply System (SPAM), Friday (17/03/2023), in Banjarbaru City, South Kalimantan (Kalsel).