Angry Birds maker Rovio misses Q4 on sales of €73.9M, EPS of €0.10, closes London studio [TechCrunch Blog]
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Source: TechCrunch Blog
Angry Birds maker Rovio misses Q4 on sales of €73.9M, EPS of €0.10, closes London studioGaming and entertainment company Roviocontinues to have a very hard time of it as it faces the music on the waning popularity of its once-might Angry Birds franchise. Today, the Helsinki-based company reported Q4 and full-year financials that fell short of analysts’ most conservative estimates as it blamed lower-than-expected interest in its new slate of games. The company also confirmed that it would beclosing its London office, opened just over a year ago to kickstart new games development, and that the head of its Games business unit, Wilhelm Taht, would beleaving the company effective immediately.“In the last quarter of the year our new games, Angry Birds Match, Angry Birds Evolution and Battle Bay landed short of our expectations,” Kati Levoranta, CEO of Rovio, said in a statement. “Competition in the market intensified, which led to a significant increase in the unit costs of user acquisition
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