Swedish games firm Paradox Interactive reported a 34 per cent increase in revenue for the 2023 calendar year.

In its release to investors, the company reported SEK2.6 billion ($248 million) in revenue, while profit clocked in at SEK688 million ($65.6 million). That's a three per cent decrease year-on-year.

For the quarter ending December 31st, 2023, Paradox's revenue was up 72 per cent to SEK995.6 million ($95 million), though profit plummeted down 46 per cent to SEK131 million ($12.5 million).

During 2023, Paradox reports bringing in six million players for the year.

"2023 has been a year during which we’ve reached many milestones," Paradox Fredrik Wester (pictured) said.

"We set a new revenue record, in the full year and in the quarter, we have stably more than six million players and we end the year with a very strong financial position. At the same time, we’re unable to relax. EBIT is at a level we are not happy with after a large write-down, and the quarter's game releases have not held the quality we want. There is certainly potential to reach even higher."