The maker of “Angry Birds” is making investors mad

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The Angry Birds Red balloon is held during the 91st Macy's Thanksgiving Day Parade in New York

Rovio’s share price has fallen by almost 19% since it went public in September, with a particularly sharp drop on Thursday (Nov. 23) after it released its first quarterly report since the IPO.

Published 1 hour ago  |  Photo by Reuters/Carlo Allegri
The Angry Birds Red balloon is held during the 91st Macy's Thanksgiving Day Parade in New York

19%

Rovio is known for the Angry Birds game, but almost a decade after it launched, the Finnish firm has failed to release another blockbuster title.

The Angry Birds Red balloon is held during the 91st Macy's Thanksgiving Day Parade in New York

19%

Rovio’s sales increased from €50 million ($59.2 million) in the third quarter last year to around €70 million this year.

The Angry Birds Red balloon is held during the 91st Macy's Thanksgiving Day Parade in New York

19%

But heavy investments to find new players for existing games meant earnings were roughly flat, at nearly €9 million. One analyst called the report a “brutal disappointment.”

The Angry Birds Red balloon is held during the 91st Macy's Thanksgiving Day Parade in New York

19%

Rovio is trying to wring as much cash out of the Angry Birds universe as possible. It has launched a crossover with Star Wars, a spin-off with new birds, and even a movie, with a sequel already in the works.

Published 1 hour ago

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