CD Projekt jumps as Cyberpunk franchise sales drives Q4 beat

CD Projekt SA

02/04/2024 10:17

** Shares in CD Projekt  CDR.WA  jump as much as 6.2%, to
their highest since October, after the Polish video game
producer's Q4 results beat expectations
    ** J.P.Morgan analysts say Q4 net income of 191 million
zlotys was 45% above expectations, which they view as a "very
healthy beat" on the back of strong sales of the Cyberpunk
franchise
    ** "The main reasons for the positive surprise on the
results were higher-than-expected revenue, lower-than-expected
COGS and SG&A expenses," Erste Group analyst Piotr Bogusz says
    ** The beat was primarily driven by better monetization of
Cyberpunk, Krzysztof Tkocz from BDM says
    ** By 0912 GMT stock is up 4.4% ​, outperforming Poland's
blue-chip WIG20  .WIG20  index, which rises 1.4% 

 (Reporting By Anna Maria Nowak, Rafal Wojciech Nowak)
 ((annamaria.nowak@thomsonreuters.com))