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)
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.