This time last year, Finland-based Rovio Entertainment was cutting 260 jobs as rapid internal growth failed to measure up to consumer demand for its flagship Angry Birds brand. Today, however, the developer and publisher announced a profit for the first half of 2016.
The company earned US$85.9 million in revenue during the first six months of this year, an US$11.5-million year-on-year improvement.
Rovio also reported a profit of US$6.4 million for the first half of 2016, marking growth of US$17.8 million over the same period in 2015. Meanwhile, the company’s games portfolio showed a year-on-year revenue increase of 24%.
At its peak in 2012, the Angry Birds brand was helping to generate yearly revenue upwards of US$200 million.
With Angry Birds returning to flight, Rovio announced its plans for several new games and a sequel to the Angry Birds Movie. Released in May, the Angry Birds Movie proved successful at the box office, opening at number one in 52 countries and grossing more than US$347 million globally.
When the company conducted its large-scale layoffs in August 2015, it announced plans to concentrate efforts on three primary business areas: games, media and consumer products. Despite a 9% drop in full-year revenues (to US$180 million) in 2014, Rovio’s games and media businesses revenue had grown by 16% and 19% to US$125.9 million and US$7 million, respectively.