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Angry Birds maker Rovio's second-quarter profit falls on Hatch expansion costs

Angry Birds maker Rovio's second-quarter profit falls on Hatch expansion costs
FILE PHOTO: A company sign and an Angry Birds game character are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. REUTERS/Anne Kauranen -
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Anne Kauranen(Reuters)
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HELSINKI (Reuters) – Rovio Entertainment <ROVIO.HE>, the maker of the 10-year-old “Angry Birds” mobile game series, reported a lower quarterly profit on Thursday due to expansion costs related to its 5G gaming platform Hatch.

The Finnish company, which listed its shares last year, said its second-quarter operating profit fell 11.3% to 5.3 million euros (£4.8 million) year-on-year, while sales remained flat at 71.8 million euros.

This week Rovio is launching a sequel to its successful venture into the film industry, “The Angry Birds Movie” released in 2016, and is hoping to cash in on it later this year.

(Reporting by Anne Kauranen; Editing by Subhranshu Sahu)

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