BREAKING NEWS

Angry Birds maker Rovio's third-quarter profit halves year-on-year

Angry Birds maker Rovio's third-quarter profit halves year-on-year
An Angry Birds game character is seen at the Rovio headquarters in Espoo, Finland March 13, 2019. REUTERS/Anne Kauranen/Files -
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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 on Wednesday a 48% drop in its quarterly profit year-on-year, due to higher costs to obtain new players.

The Finnish company, which listed its shares last year and cut its 2019 outlook on higher investment costs last month, said its third-quarter operating profit was 5.4 million euros ($6.00 million), while sales grew 5.4% on year to 74.8 million euros.

($1 = 0.9000 euros)

(Reporting by Anne Kauranen; Editing by Himani Sarkar)

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