Rovio Entertainment Announces 160% Hike in Adjusted Operating Profits in Q2 2020


News provided by

Comserve Inc.

Aug 19, 2020, 10:00 EST


Bronx, United States, Aug 19, 2020, 10:00 /Comserve / -- The maker of the popular decade-old gaming app “Angry Birds”, Rovio Entertainment Corporation, last Friday, i.e. the 14th of August 2020, announced its second-quarter and half-yearly financial report for the financial year 2020.

Image placeholder

Espoo, Finland, August 17th, 2020: The maker of the popular decade-old gaming app “Angry Birds”, Rovio Entertainment Corporation, last Friday, i.e. the 14th of August 2020, announced its second-quarter and half-yearly financial report for the financial year 2020. The stated report recorded a 160% hike in the adjusted operating profit for Q2-2020, backed by the increase in the engagement of players owing to the ongoing COVID-19 lockdowns imposed by several nations worldwide.

Although the group’s revenue dipped by 3.6% Y-o-Y to EUR 69.2 million during the second quarter of 2020 as compared to EUR 71.8 million of Q2-2019, impacted severely by a decline in lower movie revenues, yet the group’s adjusted operating profit and adjusted operating profit margin grew to EUR 13.8 million and 20% respectively during Q2-2020 as compared to EUR 5.3 million and 7.4% respectively during Q2-2019.

The Chief Executive Officer of Rovio Group Corporation, Kati Levoranta, stated in her comments that the company reported a record high of revenue generated by its Games segment which was primarily backed by the strong performance of the company’s key games, including the famous Angry Bird, which was launched in the month of December 2009. She also added in her statements that the increase in adjusted operating profit is can be attributed to the lower user acquisition investments and the planned cost savings in Hatch Entertainment Ltd., the online game streaming platform. She further added her Company’s strategy of developing new games and further improving the performance of their existing games.

The COVID-19 pandemic, which according to the statistics of the World Health Organization (WHO), recorded 21.26 million confirmed cases worldwide as of 16th August 2020 (11:38 am CEST), has undoubtedly impacted businesses across industries worldwide. Yet, several business models have successfully converted the pandemic crisis into an opportunity to generate revenues for survival, including Rovio Entertainment.

Rovio Entertainment Corporation, which functions in three segments, namely, Brand Licensing, Games, and Others, also announced its new narrative puzzle game titled “Small Town Murders”, which was launched in the month of June 2020. The Company also announced the launch of two new game studios during the second quarter of 2020.

COMSERVE empowers communicators by offering modern digital PR solutions and distribution services to identify and engage with customers, opinion leaders, bloggers and other relevant audience.


For more information, please contact:

Anna R .Moser

Comserve Inc.
Email: info@comserveonline.com
Tel: 859-228-3939

Related Links
https://www.comserveonline.com/



Also from this source


FrieslandCampina WAMCO Acquires Nutricima’s Dairy Business

Nutricima’s dairy business has been acquired by FrieslandCampina WAMCO. FrieslandCampina along wit


Australia Announces AUD 1 Billion Package For Defence Industry

In order to provide a boost to Australia’s defense industry, the Morrison Government has announced


Explore


More news releases in similar topics