Angry Birds maker’s profits sink despite jump in sales

HELSINKI

Finland’s Rovio Entertainment, creator of the popular smartphone game Angry Birds, on Thursday posted a profit loss for the third quarter despite rising sales, as it increases its investments with a view to boost its winnings in future. Sales reached 70.7 million euros (Dh309 million) in the third quarter compared to 50 million the previous year, but year-on-year the company lost 800,000 euros. Earnings before interest, tax, depreciation and amortisation were 6.1 million euros compared to 8.1 million euros the previous year.

Rovio said it invested 22 million euros in top performing games, hoping this would boost its profits in future. (AFP)