Angry Birds maker craters on bad guidance, losing half its market value

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Angry Birds maker craters on bad guidance, losing half its market value Infiniti Cloud Solutions News |

Rory & # 39; s Angry Birds stock price plummeted with craters after its latest quarterly earnings report painted a grim future for the game maker. Shares fell 50 percent after the company sent investors a warning in its latest earnings report that revenues are likely to suffer in 2018.
Despite a heavy reliance on the Angry Birds brand, which seems to have been integrated into each and every license agreement possible in recent years, Rovio, 15, is still moving. The company had $ 365 million (297.2 million euros) in revenue in 2017, an increase of 55 percent over the previous year, as the game maker earned more money from its titles and brand licensing agreements.

Today's strong reaction was the result of investors being deceived by the optimism of the company in the future orientation of the past. Rovio, which is listed on the main Finnish stock exchange in Helsinki, predicts that its 2018 revenues will probably fall below the previous year and that profits may fall, as well as user acquisition costs have increased and the future has become more uncertain.
To game developers who seem rich with a single title, historically, they have seemed rude as public companies. The company was valued at $ 1 billion before its initial public offering at the end of last year, but things have been a bit harsh with its market capitalization now below $ 500 million.

Featured image: John Lamparski / WireImage / Getty Images

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