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Revenue up at Paradox as it maintains focus on games with 'long lifespans and strong IPs'

Revenue up at Paradox as it maintains focus on games with 'long lifespans and strong IPs'

November 14, 2019 | By Alissa McAloon

New release Age of Wonders: Planetfall, alongside existing titles like Cities: Skylines, Hearts of Iron IV, Stellaris, and Surviving Mars, helped Paradox Interactive increase its revenue to SEK 282.6 million (~$29.1 million) for the quarter ending September 30, up 26 percent year-over-year.

Operating profit for the quarter is up 36 percent year-over-year, coming in at SEK 93.1 million (~$9.6 million) and up from last year’s SEK 68.3 million (~$7 million).

This quarter’s report also makes note of an unannounced externally developed project sold for SEK 80.0 million (~$8.3 million) during the quarter, amounting to a net loss of SEK 1.1 million (~$113,450).

Paradox CEO Ebba Ljungerud explains in the company’s quarterly report that Q3 continues the company’s strategy of “methodically building a portfolio of games with long lifespans and strong proprietary IPs,” and keeping interest and revenue for those titles alive through periodic paid expansion drops.

Part of those efforts, she notes, include expanding that same strategy to consoles. This latest quarter saw the launch of expansions for both Cities: Skylines and Stellaris on Xbox One and PlayStation 4, and across the past 9 months console games have generated 16 percent of Paradox’s overall SEK 908.0 (~$93.7 million) revenue for the year so far. Operating profit for those first 9 months of the 2019 fiscal year amounted to SEK 310.0 million (~$32 million), up 1 percent year-over-year as well.

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