The net profit of CD Projekt was 30 percent lower in the past quarter than a year ago. The Polish company reports that this is partly due to the costs incurred by CD Projekt RED when updating Cyberpunk 2077.
In the past quarter, CD Projekt had a turnover of 144 million Polish zloty, or approximately 30.8 million euros. The company reports that a presentation for shareholders. According to the company, that turnover is almost forty percent higher than the same quarter in 2020. In that period last year, Cyberpunk 2077 was not yet out.
At the same time, the company’s net profit fell by 30 percent this quarter compared to a year ago, to approximately 3.4 million euros. “This decline in net income from last year is primarily due to Cyberpunk updating expenses and exploratory work on new projects, which are currently in an early stage of development,” said CD Projekt’s chief financial officer. in a statement.
The presentation reveals that developer CD Projekt RED, a subsidiary of CD Projekt, has written off more than $3.4 million as “service charges” to Cyberpunk 2077 in the past quarter. The studio also spent more than $923,000 working on and planning for Cyberpunk 2077. future projects. CD Projekt RED recorded a net profit of about 4.5 million euros, but the total net profit was lowered by game platform GOG, which suffered a loss.
Cyberpunk development team scaled back slightly to work on expansion
CD Projekt announces in its quarterly results that the company’s developers are “gradually shifting to other projects,” although the company continues to support Cyberpunk 2077. This year, the company brings no more updates and dlc out for the game, but CD Projekt RED will release an upgrade for PS5 and Xbox Series consoles in Q1 2022, which should allow the game to make better use of those systems’ computing power.
This upgrade was previously planned for late this year, but was recently postponed to early next year. CD Projekt emphasizes that development is ‘on track’ to reach this release window. The same applies to the upgrade for The Witcher 3, which should be released in the second quarter of 2022.
The development team working on the first Cyberpunk expansion has grown in the past quarter, the developer reports. The company has been working on this for some time. It is not known when the expansion is due to release, but based on slides from the company, the team working on the expansion has certainly doubled since December 2020. More and more developers are also working on other, future projects. No concrete details are known about this yet.