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Rovio sees profits rise amid strong revenues from Angry Birds 2

Rovio Entertainment, the studio behind Angry Birds, released its financial report earlier today.

Rovio Entertainment, the Finnish studio behind the mobile franchise Angry Birds, released a financial report detailing its fiscal year ended March 31, 2018, noting an improvement on adjusted operating profits which rose by 73 percent year-over-year to €9.6 million (~$11.3 million).

Revenue decreased by 0.9 percent to €65.7 million (~$77.5 million) due to a decline in revenue from brand licensing, but the company's game division grew slightly, up 0.4 percent to €56.8 million (~$66.9 million). 

The company also spent less on user acquisition in the first quarter, causing investments to drop to €14.6 million (~$17.2 million). 

Rovio reports that its first quarter was in line with their expectations, noting that Angry Birds 2 achieved record revenues while Angry Birds Friends continued showing steady performance. 

As for the future, Rovio will focus on continuing development of its live game portfolio according to the Games-as-a-Service strategy, profitable user acquisition and development of new games, as well as focusing on reaching the 2019 release date for the sequel to the Angry Birds movie, which hit theaters back in 2016. 

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