Rovio shares rise as Angry Birds soar

Rovio Entertainment Oyj

11/02/2022 09:02

** Shares in Rovio  ROVIO.HE  jump 4% after the Finnish game
maker reported rising revenues in the fourth quarter from its
flagship Angry Birds franchise  urn:newsml:reuters.com:*:nL1N2UM0DU
    ** Rovio posts an 18.8% increase in quarterly games revenue
to 76.5 million euros ($87 million), says Angry Birds 2 grew
double digit year-on-year
    ** "We continue to be encouraged by the strength of AB IP,
which helps differentiate the group from peers in the onset of
IDFA disruption," Jefferies says
    ** The broker expects partnership with Netflix  NFLX.O  on
Angry Birds animated series to support further growth of the
franchise
    ** However, it also notes the profit guidance disappoints as
the company expects a lower adjusted operating profit in the
current year compared to 2021


($1 = 0.8783 euros)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))