Paradox Interactive released its report for the second quarter of 2024. The cancellation of the life simulator Life by You significantly impacted the company's finances.
Life by You
Below are the key points from the report.
- Compared to last year, Paradox Interactive's revenue fell by 22%. It amounted to SEK 575.8 million ($53.1 million).
- PC games generated the vast majority of the company's revenue — 87%. Console games contributed another 9.7%, and mobile games — 2.3%.
- The company's operating profit dropped by 90% year-over-year to SEK 28.9 million ($2.67 million).
- Paradox Interactive cited the cancellation of Life by You as the reason for such a sharp decline in profit. By closing the game, the company had to write off development expenses amounting to SEK 208 million ($19.18 million).
- Paradox Interactive CEO Fredrik Wester stated that he had mixed feelings about the quarter's results. On one hand, the company's figures were severely affected by the cancellation of Life by You. On the other hand, the expansions released during the quarter for its main hits (Age of Wonders 4, Stellaris, Victoria 3, and others) performed very well.