2023-10-27 19:16:43
Paradox Interactive released financial report for the third fiscal quarter of 2023 (from July to the end of September), which turned out to be not the brightest in the studio’s history due to the small number of releases.
Revenue for the period amounted to SEK 426.4 million, down 7% year-on-year. Operating profit amounted to SEK 85.4 million (a drop of 61%). Net profit amounted to SEK 88.5 million (69.3 after tax).
The majority of the quarter’s revenue came from Cities: Skylines, Crusader Kings 3, Europa Universalis 4, Hearts of Iron IV and Stellaris. This quarter, the authors also released additional content for Crusader Kings 3, Victoria 3 and Across the Obelisk.
In the first nine months of the year (January to September), revenue amounted to SEK 1.645 billion, which is 18% better than the same period in 2022. Operating profit equals SEK 534 million (down 17%).
Among the important recent releases were The Lamplighters League, Cities Skylines 2 and Star Trek: Infinite.
The head of Paradox, Frederic Wester, noted the problems of the third quarter, but added that revenue remains at an acceptable level, and the authors themselves are focused on the future.
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