Rovio Stock up 21% after earnings

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Rovio has released its financial report for Q1, 2022, reporting an increase in revenue and daily active users driven by continued growth of the Angry Birds franchise.

Group revenues for the quarter ended March 31 reached €85 million. This is a 26% increase compared to the same period last year.

From Rovio’s latest financial report:

Rovio Key figures

The Finnish Gaming studio reported that adjusted earnings before tax, depreciation and amortisation was €13.6 million, an 11% increase year-over-year. Adjusted operating profit was €10 million, a 1% loss compared to Q1, 2021.

Looking specifically at games results for the quarter, revenues also increased by 26.8% to €82.3 million.

The developer also launched Angry Birds Journey on January 20. The Game alone made €10.1 million in revenue in its first quarter. It’s the studio’s third largest game by revenue.

Other games that contributed to earnings include Angry Birds Dream Blast and Angry Birds Friends. The latter generated gross bookings of €9.3 million, its best quarterly revenue since Q4 2016.

Rovio’s daily active users across its portfolio also increased to 7.3 million, up from 6.5 million in Q4, 2021.

DAUs for its top five titles rose from 3.2 million in Q4 2021 to 3.6 million last quarter.

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