Angry Birds maker sees profits surge

HELSINKI (AP) ? Mobile game developer Rovio Entertainment Ltd. says the popular Angry Birds franchise helped it double revenue in 2012, with net profit surging more than 55 percent to 55.5 million euros ($71.2 million).

The Finnish company says that sales last year were 152.2 million euros, up from 75.6 million euro a year earlier. Net profit in 2011 was 35.4 million euros.

CEO Mikael Hed says Rovio had a "stellar start" this year after four major game launches in 2012 and the recent release of the Angry Birds Toons animated series, with increased revenue expected from paid games, virtual goods and advertising.

Last year, the company grew by some 300 to 518 employees.

Rovio said Wednesday total game downloads have exceeded 1.7 billion since the December 2009 launch of Angry Birds.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2013-04-03-EU-Finland-Earns-Rovio/id-171f5acab7e2443baa825a5182c964da

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