Finland-based game maker Rovio enjoyed a boost in games revenue during the second quarter, although overall revenue and operating profit fell year-on-year.
Revenue was down 16.8 per cent from €86.2 million to €71.8 million and operating profit fell 57.5 per cent from €14 million to €6 million.
On the upside, games segment revenue grew 6.4 per cent year-on-year to €65.3 million.
CEO Kati Levoranta said: “Rovio’s innovative updates in Angry Birds 2 and increased user acquisition investments propelled Rovio’s second quarter games revenues”.
However, while Angry Birds 2, Angry Birds Friends and Angry Birds Match fared well, Levoranta said the company “did not see the growth we wanted” from other titles.
She added growing user acquisition investments and lower revenue from the Angry Birds movie franchise meant a smaller “but still healthy” operating profit.
Going forward, the company plans to focus on continuing development of its live game portfolio as part of its Games as a Service strategy; profitable user acquisition; and development of new games.
In 2018 it also wants to invest between €10 million and €15 million in its subsidiary Hatch Entertainment, which develops a cloud-based game streaming service, an increase from the €5 million it invested during 2017.Subscribe to our daily newsletter Back