CD Projekt's Q1 Financials: A Tale of Incremental Success
CD Projekt, a leading games developer from Poland, has registered a 1% increase in net profit year-on-year for the first quarter. This comes as the company prepares to launch an expansion to its highly successful "Cyberpunk 2077" game.
Behind the Figures: Profit and Revenue Insights
Despite experiencing a 19% drop in revenues, which sank to 174.8 million zlotys, the game maker managed to pull off an increase in net profit, climbing to 69.7 million zlotys ($16.8 million). As in previous periods, the lion's share of sales is attributed to the action role-playing game, "Cyberpunk 2077".
'The Witcher 3' Holds Strong Amid New Releases
"The Witcher 3", another popular game from the developer, continued to perform robustly, benefiting from its next-gen console release in December 2022. This was confirmed by the company's CFO, Piotr Nielubowicz.
The Witcher Sales Triumph: 50 Million and Counting
CD Projekt proudly announced having sold over 50 million copies of "The Witcher 3: Wild Hunt". The entire Witcher trilogy's sales now surpass an impressive 75 million copies. CEO Adam Kicinski expressed satisfaction with the franchise's strength, particularly regarding future projects within the Witcher universe.
Upcoming Releases: 'Cyberpunk 2077: Phantom Liberty'
After a two-year hiatus without a major new release, CD Projekt plans to unveil "Cyberpunk 2077: Phantom Liberty" on June 8, during the Summer Game Fest: Play Days in Los Angeles. The game company hinted at several other worldwide events, with more details to be disclosed in the coming weeks.
Transitioning to Unreal Engine 5: An Industry Shift
"Phantom Liberty" will be the final game produced on CD Projekt's proprietary RED engine. The company plans to transition to the external Unreal Engine 5 for forthcoming projects. Among the slate of upcoming projects is a new Witcher trilogy, a remake of the first Witcher, and a sequel to Cyberpunk.
'Cyberpunk 2077': A Sales Powerhouse
CD Projekt's "Cyberpunk 2077" has been a sales juggernaut, with over 20 million copies sold, underlining the company's capacity to produce blockbusting games.