revenues up, but profits suffer from expenses related to Cyberpunk 2077

Despite the controversies that accompanied it at the launch, Cyberpunk 2077 had an overall moderate impact on CD Projekt RED’s financial earnings in the first quarter of 2021. In the last three months, however, the Sci-Fi stock has greatly affected the balance. of the Polish firm.

According to the data released by CD Projekt during the last meeting with the shareholders, the revenues of the Polish company increased by 29% up to 471 million PLN (124 million dollars) thanks to the continued sales of Cyberpunk 2077 and The Witcher 3: Wild Hunt and its expansions. Despite the increase in overall revenues, CD Projekt said its profits were negatively impacted by Cyberpunk 2077 and the “ongoing work-intensive costs by the team on upgrades and further development …”. Overall, CD Projekt recorded a first-half net profit down 28% to PLN 105 million (US $ 27.6 million).

Among other shared information, we find that sales of the company’s games in retail format have increased by just 5% on an annual basis, while those distributed digitally have increased by 32%. The company also reported that its sales in Europe fell 52% year-on-year during the first six months of 2021, while North America experienced exponential growth of 94%.

During the same meeting, CD Projekt specified that the next-gen updates of Cyberpunk 2077 and The Witcher 3 are still scheduled for 2021, however plans may change in the course of the works. Although the work on Cyeberpunk 2077 certainly does not stop there, the company has stated that it wants to gradually move its collaborators to new projects not yet announced.