Rovio has announced that in 2011, it made a huge $106.3 million turnover and a whopping $67.6 million in profit (before tax), showing that flinging feathery fowl is a very serious business. Fueled by the success of Angry Birds, Seasons and Rio, the company grew by a factor of eight in the last year, from 28 employees all the way to 224. The company adds that the three games were downloaded 648 million times and are now used by 200 million daily users, while sales of merchandise contributed to around 30 percent of the total revenue. The report adds that the only barrier to future profits is if people stop buying new smartphones, but we're not sure that's likely to be the case for a while.

Continue reading Rovio makes a Mighty Eagle's $68 million in profit in financial squawk

Rovio makes a Mighty Eagle's $68 million in profit in financial squawk originally appeared on Engadget on Mon, 07 May 2012 15:23:00 EDT. Please see our terms for use of feeds.