Rovio sees 26% increase in group revenues to €85m

Rovio has released its financial report for Q1, 2022, reporting an increase in revenue and daily active users driven by continued growth of the Angry Birds franchise.

Group revenues for the quarter ended March 31 reached €85 million, a 26% upswing on the same period last year.

The studio reported that adjusted earnings before tax, depreciation and amortisation was €13.6 million, an 11% increase year-over-year. Adjusted operating profit was €10 million, a 1% loss compared to Q1, 2021.

Looking specifically at games results for the quarter, revenues also increased by 26.8% to €82.3 million.

Gross bookings for the quarter increased by 25.8% to €80.8 million and were largely driven by Rovio's biggest title, Angry Birds 2, which alone generated €30.3 million.

The developer also launched Angry Birds Journey on January 20, which alone made €10.1 million in revenue in its first quarter. It's now the studio's third largest game by revenue.

Other games that contributed to earnings include Angry Birds Dream Blast and Angry Birds Friends. The latter generated gross bookings of €9.3 million, its best quarterly revenue since Q4 2016.

Rovio's daily active users across its portfolio also increased to 7.3 million, up from 6.5 million in Q4, 2021. DAUs for its top five titles rose from 3.2 million in Q4 2021 to 3.6 million last quarter.

Rovio also reported that its subsidiary Ruby Games -- which it acquired last August -- generated €6.1 million ($6.4 million) during Q1.