October 30, 2019 / 7:33 AM / 21 days ago

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

FILE PHOTO: Angry Birds toys are displayed during a news conference in Hong Kong July 3, 2012. REUTERS/Bobby Yip

HELSINKI (Reuters) - Rovio Entertainment, 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.

Reporting by Anne Kauranen; Editing by Himani Sarkar

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