Angry Birds maker Rovio posts sharply lower quarterly profit

The Finnish company reported a second-quarter adjusted operating profit of €6 million. (Reuters)
Updated 17 August 2018
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Angry Birds maker Rovio posts sharply lower quarterly profit

HELSINKI: Rovio Entertainment, the maker of the “Angry Birds” mobile game series, reported a sharply lower quarterly profit on Friday due to declining revenue from its 2016 Hollywood movie, but said sales at its games business were growing.
The Finnish company, which listed its shares last September, reported second-quarter adjusted operating profit of €6 million ($7 million), down from €16 million a year earlier and roughly in line with market forecasts according to Thomson Reuters data.
Total sales fell 17 percent to €72 million while the games unit grew 6 percent to €65 million.
Rovio reiterated its full-year outlook, which in February wiped 50 percent off its share price. The company expects total sales of between €260 million and €300 million this year, against €297 million in 2017.


Huawei secretly helped North Korea build, maintain wireless network: Washington Post

Updated 26 min 10 sec ago
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Huawei secretly helped North Korea build, maintain wireless network: Washington Post

WASHINGTON: Huawei Technologies Co. Ltd. , the Chinese company put on a US black list because of national security concerns, secretly helped North Korea build and maintain its commercial wireless network, the Washington Post reported on Monday, citing sources and internal documents.
The Chinese telecommunications giant partnered with a state-owned Chinese firm, Panda International Information Technology Co. Ltd., on a number of projects in North Korea over at least eight years, the Post reported.
Such a move would raise questions of whether Huawei, which has used US technology in its components, violated American export controls to furnish North Korea with equipment, according to the Post.
The United States put Huawei on a blacklist in May, citing national security concerns. The move banned US companies from selling most US parts and components to Huawei without special licenses but President Donald Trump said last month American firms could resume sales in a bid to restart trade talks with Beijing.
Huawei did not immediately respond to a request for comment, but said in a statement to the Washington Post it had “no business presence” in North Korea. It was not immediately possible to reach the Panda Group.
The Commerce Department, which also did not immediately respond to a request for comment, has investigated possible links between Huawei and North Korea since 2016 but has not publicly connected the two, the Post said.
Huawei and Panda vacated their Pyongyang office in the first half of 2016, the newspaper reported.