Rovio's Skyrocketing Growth and the Increasing Dominance of Smartphone Gaming
By Michael Comeau
NEW YORK (Minyanville) -- Finland's Rovio Entertainment, maker of the phenomenally popular Angry Birds series of mobile video games, just released its full-year 2011 financial results, and the numbers are spectacular -- particularly when compared with the old-school of the video-game industry.
For 2011, Rovio's revenues hit $106.3 million (¿75.4 million), jumping more than ten-fold from 2010 as downloads of Angry Birds, Angry Birds Seasons, and Angry Birds Rio reached 648 million.
And it's not all about the top line. Rovio is extraordinarily profitable, with a pre-tax margin of 64% that easily outpaced industry giants like Activision (ATVI) and Electronic Arts (EA), which are growing at much slower rates.
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