During the first quarter of 2022, Paradox Interactive's revenue increased by 31% reaching $48.3 million, while its operating profit grew 125 % to $21.1 million. The figures reflect the highest results the company ever achieved in a single quarter.
On May 3, Paradox Interactive released its quarterly report revealing impressive results which were partly driven by the console launch of Crusader Kings III. According to the report, the company's revenue in the first quarter of 2022 amounted to SEK 476.1 million ($48.3 million), reflecting an increase of 31% compared to the same period in 2021.
Paradox Interactive's operating profit grew by 125 % reaching SEK 208.5 million ($21.1 million), and its profit after tax was SEK 168.6 million ($17.1 million). The company noted that its revenues in the quarter were mainly driven by Cities: Skylines, Crusader Kings III, Europa Universalis IV, Hearts of Iron IV, and Stellaris.
Apart from that, the company pointed out the significant achievements that were reached during the period including its grand strategy role-playing video game Crusader Kings III reaching 2 million sales, and its port to Xbox Series X|S and PlayStation 5.
CEO of Paradox Interactive Fredrik Wester noted that a console port for Crusader Kings III considerably influenced reaching new audiences saying that this move, as well as quarter’s releases, provided the highest earnings the company ever managed to reach in a single quarter.
"We have had good momentum into 2022 with important reinforcements of our gaming portfolio. More specifically, the first months of the year have been characterised by deepening our important strategy and management games with both small and large releases," he said. "[The profit] testifies to the strength of our business and that the changes we are making have an effect. The result shows that we are on the right course, although there is a conviction throughout the organisation that we can do even better in the long term."
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