Poland video game maker CD Projekt third-quarter profit falls 61.5% (updated)
26/11/2024 17:42
(Adds details on revenue, projects in development, CFO comment)
Nov 26 (Reuters) - CD Projekt, Poland's biggest video
game developer CDR.WA , reported on Tuesday that its
third-quarter net profit fell 61.5%, as it did not release any
new games this year.
Net profit was 78.1 million zlotys ($18.97 million), which
still beat analyst expectations of 73 million zlotys.
Revenue for the period fell 49% from a year ago to 227.6
million zlotys. In September last year, the company released the
long-awaited expansion to its flagship game "Cyberpunk 2077",
which boosted its results for all of 2023.
"We’re looking back at another very strong quarter.
Cyberpunk 2077 and its Phantom Liberty expansion continue to
sell very well, but The Witcher 3 is also performing admirably",
company CFO Piotr Nielubowicz said in a statement.
CD Projekt said it has entered full-scale production of
Polaris, the first instalment in the new Witcher saga. As of
Oct. 31, 400 developers were working on the project.
It also had 64 developers working on a Cyberpunk sequel
under the code name Orion.
The total post-release sales of "Cyberpunk 2077" topped 30
million copies, while Phantom Liberty expansion has sold over 8
million copies.
($1 = 4.1165 zlotys)
(Reporting by Adrianna Ebert
Editing by David Goodman and Bill Berkrot)
((Adrianna.Ebert@thomsonreuters.com; +48 58 769 65 88;))