CD Projekt Profits Hit Hard in Latest Financials

The latest Q1 2021 earnings for CD Projekt don’t make for pleasant reading thanks to the problems with Cyberpunk 2077.

According to the numbers, CD Projekt profits fell by 64.7% (32.5 million zlotys) in the first quarter. Analysts had expected to them reach 80 million zlotys. The problems lie with the console versions, specifically the removal of the game from the Playstation Store.

CD Projekt Profits Hit Hard in Latest Financials - quotebackground
The general situation as long as we are not back on the Sony store has not changed. One of the leading marketplaces for us is not available and we generate most of the sales on the PC/digital channels.

According to CDPR, there are “conversations” happening with Sony but they are not at a stage where they can announce anything regarding the game’s presence on the Playstation store.

CD Projekt has still to release further fixes for Cyberpunk 2077 which will have cost implications as well as thinking about the future DLC.  So far CDPR has spent around 7.9M trying to fix Cyberpunk 2077. The financial call did indicate that the next update for the game will be in a few weeks.

The bottom line is, the problems with Cyberpunk 2077 have affected profits and hopefully, a lesson has been learned.

 

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