Angry Birds maker shows spike in revenue after movie

Rovio Entertainment has doubled its sales for the first half of the year due to the success of The Angry Birds Movie, Reuters reported.

Revenue in the first half of 2017 increased to 152.6 million euros, from 78.5 million a year earlier.

Adjusted earnings before interest, taxes, depreciation, and amortisation increased to 41.8 million euros, from 11 million a year ago.

Game revenues increased by 76% to 117.9 million euros, underscoring the company’s return to profitability after years of falling earnings and job cuts.

A sequel to The Angry Birds movie is in the works, with Rovio aiming to release it by September 2019.

Columbia Pictures will produce the film, which will be distributed by Sony Pictures. Thurop Van Orman will direct the film.

Rovio also plans to launch an IPO as early as next month.

Now read: Angry Birds creator Rovio is planning a $2-billion IPO