Paradox Interactive Faces Major Financial Hit After Cancelling 'Life By You'

The company's profits plummeted 90% in Q2 2024, driven by a costly write-down and project cancellations.

CEO Fredrik Wester acknowledges multiple missteps in project management.
The cancellation of 'Life By You' resulted in a $19.2 million write-down.
Overall revenue dropped by 22%, reflecting broader financial challenges.
Core games like Stellaris and Europa Universalis IV continued to perform well.
Changes in investment strategy aim to mitigate future high-risk project failures.