CD Projekt sales drop 20% year-over-year
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Next month, the company will launch a marketing campaign to promote the expansion of Cyberpunk 2077: Phantom Liberty, despite denials of an impending takeover by Sony.
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With today’s release of its first-quarter earnings report for 2023, CD Projekt revealed that it has been more than 2 years since its last major release, Cyberpunk 2077.
The Numbers:
CD Projekt 2023 very first quarter results
- Net sales: Down 20% to EUR37.2 million ($39.8 million)
- Net revenue: Flat at EUR14.8 million ($15.9 million)
The Highlights:
CD Projekt CFO Piotr Nielubowicz said, “Just like in previous periods, the biggest contribution to our sales originated from Cyberpunk 2077.” However, “another strong quarter for The Witcher 3 was enjoyed” after the December 2022 release of the game for next-gen consoles.
Pressing with a 25% aiding quarter Over fifty million copies of The Witcher 3 have been sold, and over seventy-five million copies of the Witcher series as a whole.
Cyberpunk 2077 isn’t over for CD Projekt. Despite focusing nearly half of its development team on Phantom Liberty, the company is still providing regular support for the primary video game.
The next Witcher game, Polaris, has experienced an increase in resources in recent quarters, as has the Molasses Flood spin-off, Sirius (which was apparently restarted late in the quarter), though to a lesser extent.
The company has not announced a release date for Phantom Liberty, but it did announce that it would kick off promotion for the expansion at Summer Game Fest on June 9 and 10.
Over the course of the quarter, CD Projekt’s GOG division achieved some moderate progress, with total profits up 3% to PLN 41.5 million ($9.84 million) and net earnings up 63% year-over-year to PLN 248,000 ($59,000).
Reuters says that CD Projekt CEO Adam Kicinski also denied weekend rumours that Sony was interested in acquiring the company.
Nothing has changed on our end, though. I can reiterate what we’ve always said: CD Projekt is not for sale. Kicinski said in a teleconference after the results were in, “We wish to stay independent.”
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