Rovio slides as profit halves

Rovio Entertainment Oyj

12/08/2021 09:02

** Shares in Rovio  ROVIO.HE  are down 7% after the Finnish
game maker reported operating profit falling by more than half
 urn:newsml:reuters.com:*:nFWN2PJ0BQ
    ** The company reported underlying profit falling 55% to 6.2
million euros ($7.5 million) in Q2 against 7.4 million euros
seen by Inderes in May
    ** Rovio's revenue growth was driven by existing games,
while it hasn't been able to reach a scale fitting its ambition
level on Darkfire Heroes game launched in April, it says
    ** It has also cancelled 4x strategy game Hardhead Squad
which was in soft launch
    ** Rovio keeps its outlook unchanged -- still sees changes
in consumer behaviour and market trends accelerated by COVID-19
as well as Apple's privacy policy adding to uncertainty in the
market
    ** The stock is on track for its worst day in six months,
wiping off year to date gains
    


($1 = 0.8524 euros)

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