Angry Birds maker Rovio first-quarter sales rise thanks to new game

Angry Birds maker Rovio first-quarter sales rise thanks to new game

Finland's Rovio Entertainment, the maker of the "Angry Birds" mobile game series, reported on Thursday falling quarterly profits but growing sales, citing a strong start for its new game, Angry Birds Dream Blast.

A company sign and an Angry Birds game character are seen at the Rovio headquarters in Espoo
A company sign and an Angry Birds game character are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. REUTERS/Anne Kauranen/Files

HELSINKI: Finland's Rovio Entertainment, the maker of the "Angry Birds" mobile game series, reported on Thursday falling quarterly profits but growing sales, citing a strong start for its new game, Angry Birds Dream Blast.

The company, which listed its shares in 2017, reported first-quarter adjusted operating profit of 7.5 million euros (US$8.4 million), down 19 percent from 9.2 million euros a year ago.

Rovio's sales grew 7.8 percent, to 70.9 million euros.

Rovio said it expects 2019 sales between 300 and 330 million euros, with its full-year core operating profit margin seen at 9-11 percent.

(US$1 = 0.8966 euros)

(Reporting by Anne Kauranen and Tarmo Virki; Editing by Muralikumar Anantharaman)

Source: Reuters

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