Paradox Interactive

Paradox Interactive Reports Significant Profits in Q2

Paradox Interactive has reported a very profitable Q2 in its earning call, CEO Ebba Ljungerud explained that the spike in revenue is attributable to COVID-19 boost in sales in games like Stellaris, Cities: Skylines, Europe Universalis IV, Age of Wonders: Planetfall and Hearts of Iron IV.

Investors were pleased to learn that revenue increased in 20% to SEK 464.9 million (€45 million) year-on-year while operating profit rose to SEK 199 million (€19 million) year-on-year.

Ljungerud also confirms that the business model will be sustained for the foreseeable future, DLC remains as the biggest focus for the company, fans should expect more content to arrive for each of the previously mentioned games in the following months. It was also mentioned that Paradox is close to acquiring two studios after the close of Q2, with “Playrion Game Studio and Iceflake Studios being amalgamated into the growing publisher and increasing the group’s headcount to 534 people”.

“The second quarter came with a major increase in our capacity and competence to develop and publish games – both through organic growth and through acquisitions,” said Paradox CEO Ebba Ljungerud. The group’s staff have been working from home since mid-March, and there is currently no timeframe for their return to normal working arrangements.

Ljungerud added that remote working has affected productivity, with the risk that unannounced titles may be delayed. Additionally, Paradox noted the lockdown gaming spike began to taper off with the approach of summer. “In summary, we leave an operational as well as financially successful quarter behind us with strengthened relationships with our fantastic fans,” she said. “Through the acquisitions and recruitments we have made in recent months, we have many new colleagues to welcome when our summer holidays come to an end.”

Source: GamesIndustry

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