Rovio posts EUR 86.2m revenue in Q2

Software development company Rovio Entertainment Limited’s strong growth continued in the second quarter of this year with the revenue increasing to EUR 86.2 million, said a press release.

The year-on-year revenue increase was 94 per cent compared to the revenue of EUR 44.5 million earned in March to June, 2016.

The revenue earnings increased due to the continued strong performance of Rovio’s games, as well as the revenue from ‘The Angry Birds Movie’, a global blockbuster animated movie released in May 2016.

During second quarter, Rovio also successfully launched two new games – Battle Bay and Angry Birds Evolution.

The revenue of the Games business unit increased by 65 per cent and amounted to EUR 61.3 million (EUR 37.2 million in Q2/2016).

The growth was driven by a 30 per cent increase in the number of monthly paying users and a 51 per cent increase in revenue per monthly paying user.

“The second quarter of 2017 evidenced true delivery of our Games-First strategy with very strong growth in revenues and profits. During the second quarter, we also finalized Rovio’s restructuring and moved towards a licensing model of lower operating and capital expenses in the consumer products and animated content businesses. The benefits of these structural changes, however, have not yet been reflected in the strong financial performance we achieved in the first half of 2017,” the CEO of the company Kati Levoranta said.