Finnish game developer Rovio crashes on the Helsinki Stock Exchange after a profit warning in the morning. After a couple of hours of trading, the act has plummeted almost 24 percent and is down to the lowest level since the turn of the year.
Rovio, which is among other things behind Angry Birds, announced that it will be forced to lower the company's profit forecast for 2019 after, among other things, lower revenues from previously released games.
Rovio estimates that revenues for 2019 will fall in the range of EUR 295–310 million, compared with previously EUR 300–330 million. At the same time, operating profit is expected to fall to 5–8 percent compared to the previous forecast of 9–11 percent.