Rovio Entertainment has reported a 17% decline in its revenue for the second quarter, to the tune of US$81.9 million.
The Finnish company’s EBITDA for Q2 shrunk by 69% to US$10.6 million, while operating profit fell 57% to US$6.8 million.
Revenue for the Games segment grew by 6.4% to US$74.5 million in Q2 2018. Angry Birds 2 continued to drive growth, with gross bookings for the game increasing by 44% to US$33.9 million. Daily active users for the Games segment stayed relatively steady at 8.8 million for Q2, while unique monthly players grew by 14.6% to 581,000.
Brand Licensing revenue, meanwhile, was US$7.4 million in the second quarter (down from US$28.4 million over the same period last year). According to Rovio, the decline is due to the Q2 2017 peak for revenue related to The Angry Birds Movie.
For the first half of fiscal 2018, Rovio’s revenue fell 9.9% to US$156.9 million. Despite Q2 declines, the company’s full-year outlook remains unchanged, and revenue for fiscal 2018 is expected to be between US$296.7 million and US$342.3 million.
The slump in revenue comes on the heels of a 75% improvement in Rovio’s profitability in Q1, thanks to record revenue from its top game, Angry Birds 2. However, the company’s Brand Licensing revenue decreased by 8.8% to US$11 million in Q1, following a larger 53% decline in Q4 2017 to US$9 million. Rovio previously reported that it expects its Brand Licensing segment to fall by 40% this year, due to the fading profile of The Angry Birds Movie.