CD Projekt net profit drops, partly due to development costs Cyberpunk 2077 updates – Games – News

CD Projekt’s net profit fell 30 percent last quarter compared to 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 last quarter, sales of CD Projekt amounted to 144 million PLN, or approximately 30.8 million euros. Company reports that Presentation to shareholders. According to the company, that sales volume is nearly 40 percent higher than the same quarter of 2020. At that point last year, Cyberpunk 2077 wasn’t over yet.

At the same time, the company’s net profit fell 30 percent this quarter compared to last year, to nearly 3.4 million euros. “This decrease in net income from last year is mainly due to Cyberpunk modernization expenditures and exploratory work on new projects, which are currently in an early stage of development,” said CD Projekt, CFO. in the current situation.

The presentation reveals that developer CD Projekt RED, a subsidiary of CD Projekt, wrote off more than $3.4 million in “service fees” for Cyberpunk 2077 in the past quarter. The studio also spent more than $923,000 working and planning for Cyberpunk 2077. Ventures future. CD Projekt RED reported a net profit of about 4.5 million euros, but the total net profit was reduced by the gaming platform GOG, which suffered a loss.

The Cyberpunk development team has scaled down a bit to work on expansion

CD Projekt announced in its quarterly results that the company’s developers are “gradually switching to other projects,” although the company continues to support Cyberpunk 2077. This year, the company is bringing in No more updates and dlc out As for the game, but CD Projekt RED will release an upgrade for PS5 and Xbox Series consoles in the first quarter of 2022, which will allow the game to make better use of those systems’ computing power.

This upgrade was previously planned for late this year, but was recently pushed back to early next year. CD Projekt emphasizes that development is “on track” to reach this release window. The same goes for The Witcher 3 upgrade, which is scheduled for release in the second quarter of 2022.

The development team working on the first Cyberpunk expansion grew in the past quarter, according to a developer report. The company has been working on this for some time. It is not known when the expansion will be released, but based on the slides from the company, the team working on the expansion has definitely doubled since December 2020. More and more developers are also working on other future projects. No specific details are known about this yet.