Paradox revenue up 49% year-on-year in last quarter

pcgamesinsider.biz:

Swedish games firm Paradox Interactive has seen a 49 per cent increase in revenue.

That's according to the company's financial report for the 2022 year, which shows that the publisher made SEK580 million ($55 million) in the last quarter of the year. For the three months ending December, operating profit also rose 65 per cent to SEK244.5 million ($23.2 million).

For the full 2022 year, Paradox brought in SEK 1.97 billion ($186.9 million) in revenue – a 36 per cent increase – while operating profit almost tripled to SEK 887.1 million ($84.2 million).

"It’s safe to say we entered 2022 with challenges ahead of us. In the same period last year, our main issues were having a consistently high game quality, a high release cadence and cost control, areas that are the core of every well-functioning gaming company," Paradox CEO Fredrik Wester said.

"At the end of the year, we can see that our efforts have given us a very nice return. We have had good quality in our releases, we have continued to work hard to keep a good release cadence and also made important efficiency improvements. Our efforts to improve will continue as it is a work without a real end, but a profit before tax of SEK 884 million for the full year speaks for itself, we are on the right track. At the same time, it is important not to forget that our results were given a strong boost by a weak SEK, but ultimately this year's results would not have been possible without the entire organisation’s solid teamwork."