• Rovio shares crash 19% after Angry Birds maker's disappointing first post-IPO earnings

    23 days ago - By Venture Beat

    Almost two months after its IPO , Angry Birds maker Rovio Entertainment today learned a painful lesson about life as a public company when investors battered its stock following an earnings report that failed to meet expectations.
    Rovio missed on both profits and sales, and, as a result, its stock was down 18.87 percent in mid-day trading on the Helsinki exchange, dipping below its IPO price.
    The company blamed increased spending on users for denting profits for the three months ending in September.
    “In line with our growth strategy, we significantly increased our investments in user...
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