CD Projekt reports big profit slump in Q1

Gaming

By Sherif Saed
1 June 2021 13:45 GMT

CD Projekt’s 2021 fiscal year is off to a bad start.

Cyberpunk 2077 and The Witcher publisher CD Projekt has published [PDF] its earnings for the first quarter of FY2021. Profits dropped by 64.7% to roughly $8.7 million, well below the $21.8 million analysts expected the company to generate.

Watch on YouTube

This is a result of a 2% revenue slump, but mainly because of the company’s continued development to fix Cyberpunk 2077 and create DLC. Although CD Projekt did not say how many copies of Cyberpunk 2077 were sold during the quarter, the publisher said that the game is responsible for 60% of overall sales over the period.

CD Projekt also pointed out that it continues to miss out on significant revenue as a result of Cyberpunk 2077 remaining off the PlayStation Store, a situation the developer previously said it’s working to change. Most of the game’s revenue was generated on PC digitally.

“The general situation as long as we are not back on the Sony store has not changed. One of the leading marketplaces for us is not available and we generate most of the sales on the PC/digital channels,” said CD Projekt.

Nevertheless, CD Projekt hopes to increase Cyberpunk 2077 sales once the game’s add-ons start to arrive, and when the game returns to the PlayStation Store. The publisher is also banking on the next-gen update of The Witcher 3: Wild Hunt to have a similar effect later this year.

CD Projekt remains committed to kicking off parallel AAA development in 2022.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. Read our policy.

Products You May Like

Articles You May Like

Hades wins best game writing at The Nebula awards
Switch Users Report Problem With Error 2123-1502 Following System Update Issues
Video Game Accessory Maker Hyperkin Teases Tetris Collab
INTERVIEW: Talking EVERYTHING’S ARCHIE! with Fred Van Lente
Escape from Tarkov’s new trailer shows off upcoming Streets of Tarkov map, again

Leave a Reply

Your email address will not be published. Required fields are marked *