Angry Birds maker Rovio’s profit drops 96% on slow 5G platform take up
The Finnish gaming company also cited higher marketing costs and said it is looking at ‘strategic alternatives’ to its 5G Hatch offering
12 February 2020 - 18:20
Helsinki/Gdansk — Quarterly profit at Angry Birds maker Rovio Entertainment has plunged 96% as the mobile games company was hit by the slower-than-expected take up of its 5G gaming platform Hatch and higher marketing costs.
Shares in the Finnish company slumped as much as 22% after it said it was evaluating “strategic alternatives” for Hatch, while also looking to make annual cost savings of €6m at the 80%-owned unit...
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