CEO says Paradox "can do better" as Q1 profits plummet
Paradox Interactive reported a 9% decrease in revenue during the first quarter of 2021, as well as a 44% drop in profit compared to 2020. Revenue from January to March 2021 reached SEK 364.5 million ($43 million) compared to SEK 400.4 million ($48 million) for the same period last year. CEO Ebba Ljungerud noted in Paradox's interim report that the company was impacted by fluctuating exchange rates. "Since a large part of our revenue is in USD and other foreign currencies, our revenue and result are affected by changes in exchange rates," she said. "The USD/SEK exchange rate has decreased by 1...