Anguished Birds: Rovio Net Profit Falls 52% in 2013

Angry Birds creator Rovio's net profit fell 52% in 2013 as revenues remained fairly flat, sparking concerns that the franchise may be losing steam.

Net profit for the year was $37.3 million compared to $77 million in 2012. Revenues were $216.3 million, up slightly from $211 in 2012. In a press release, Rovio CFO Herkko Soininen described 2013 as a "foundation-building year" in which the company invested in new business areas like animation and video distribution and introduced new business models in games

"With these investments we have been gearing up for the future growing markets," Soininen said. Rovio also increased its head count from 500 to 800 Read more...