Angry Birds maker Rovio reports profit rise on lower costs

FILE PHOTO: Angry Birds game characters are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. Picture taken March 13, 2019. REUTERS/Anne Kauranen

HELSINKI (Reuters) – Rovio Entertainment (ROVIO.HE), maker of the 10-year-old “Angry Birds” mobile game series, on Tuesday reported a nearly 75% rise in first-quarter profit helped by lower costs.

The Finnish company, which listed its shares in 2018, said its adjusted operating profit rose to 13 million euros ($14.1 million) from 7.5 million while revenue fell 6% to 66.6 million euros.

“In our games, we have seen an increase in the number of downloads as well as user engagement and also some uptick in revenues in March and April, Rovio said in reference to the COVID-19 pandemic’s impact on its business.

Reporting by Anne Kauranen; editing by Jason Neely

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