Rovio Entertainment, the maker of the 10-year-old "Angry Birds" mobile game series, has reported a 96% drop in its quarterly profit year-on-year.
The company's performance was burdened by its 5G gaming platform Hatch and increased user acquisition costs.
The Finnish company listed its shares in 2018 and cut its 2019 outlook on higher investment costs in September.
It said today that its fourth-quarter adjusted operating profit declined to €0.2m from €5.3m a year earlier, while sales dropped 1.4% to €71.6m.
Rovio said Hatch, its 80%-owned subsidiary developing a cloud-based game streaming service, is seeking annual cost savings of €6m and focusing on a subscription and streaming service for children and families.