The quarterly report is reported by Rovio, the Finnish manufacturer of the game Angry Birds. Photo
Finnish game maker Rovio is raising its thumbs on the Helsinki Stock Exchange after an interim report. Shares rose 2.5 percent.
Higher marketing costs reduce operating profit during the first quarter of the year, but the outlook for 2021 is positive, according to Rovio, who is best known as the company behind the gaming success of Angry Birds.
Basic operating income for the first quarter fell to € 10.1 million from € 13 million a year earlier. At the same time, marketing expenses increased by 28.5 percent to 17.3 million euros.
“Our biggest game, Angry Birds 2, has been growing every year, and revenue from the game has increased until the end of the quarter,” wrote CEO Alex Pelletier-Normand in a comment.