Gaming News

CD Projekt’s first-quarter profit more than doubles

Polish video game maker CD Projekt more than doubled its first-quarter net profit, helped by a pick up in sales of its flagship “Cyberpunk 2077” game after months spent fixing glitches, reports Reuters. Also Read – Liked watching Uncharted? Here are the upcoming series/movies inspired by famous games

“The next-gen version of Cyberpunk, released together with a major update…had a positive effect on the game’s perception and sales figures, particularly on console,” the company’s chief executive Adam Kicinski said in a statement. Also Read – The Witcher 3: Wild Hunt next-gen upgrades to release at the end of this year, confirms CD Projekt Red

CD Projekt has been working to fix Cyberpunk ever since its bug-ridden debut in late 2020 and it has released several patches and fixes for the game. Net profit jumped 112 percent to 68.9 million zlotys ($16.06 million), slightly above the 67 million expected by analysts polled by Reuters. Also Read – Sony PlayStation 5 restock dates revealed: Check new offer, other details

Finance chief Piotr Nielubowicz said most of CD Projekt’s first-quarter revenue had come from Cyberpunk, while the company’s balance of cash, deposits and T-bonds increased by more than 107 million zloty in the first three months of the year.

The company, also behind “The Witcher” franchise, reported a 9 percent rise in revenue to 216 million zlotys, topping the 207 million expected by analysts. Selling costs dropped 2 percent to 60.6 million zlotys led by a 63 percent fall in costs relating to Cyberpunk service, but publishing costs rose 87 percent.

Meanwhile, CD Projekt Red‘s much-awaited PlayStation 5 and Xbox Series X/S version of The Witcher 3: Wild Hunt is announced to release in the last three months of this year. This release news has been confirmed on Twitter by the developer itself. This update will be rolled out for the last-gen version on PC, PS4 and Xbox One for free.

The game was announced back in September 2020 and was scheduled to release in 2021. This launch was pushed back to April this year “until further notice”. After this, the developer released a statement announcing that the game was not trapped in development hell.

At that time, the developer’s in-house team had taken over the development of The Witcher 3: Wild Hunt – Complete Edition from Saber Interactive (also handled the Nintendo Switch port of the base game). However, the developer now seems pretty confident that it will be able to release the upgraded version this year.

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