Cyberpunk 2077 on PS5 and XSX/S by End of the Year; CD Projekt Profits Above Expectations
In the first hald of 2021 CD Projekt has managed much better than stock market analysts predicted. The company also assured that Cyberpunk 2077 will appear on PlayStation 5 and Xbox Series X/S in a truly next-gen release later in 2021.
CD Projekt published a summary of financial results for the period from January to June 2021. Sales revenue increased from PLN 364 ($95 million) to PLN 470.62 million ($123 million) compared to the same period last year. This was helped primarily by Q2 2021, in which CD Projekt's net profit turned out to be 125% higher than indicated by analysts' forecasts (PLN 72.6 million ($19 million) instead of the expected PLN 32.3 million ($8.4 million)), and increased by 32.4% year-on-year. This in turn was due to both Cyberpunk 2077 and The Witcher 3: Wild Hunt.
Piotr Nielubowicz, VP Finance, also summarized the highlights of the past six months. He recalled the "transformation" plans of CD Projekt RED, the subsequent updates of Cyberpunk 2077 and the preparation of its 9th-gen console versions. Dedicated editions for PlayStation 5 and Xbox Series X/S are expected by the end of the year, although no exact date was given.
CD Projekt has also assured that around 40% of the team is still working on the development (or repair) of the base game, while another 25% is involved in the development of the first of the planned large expansions.
"Servicing Cyberpunk while our studio undergoes transformation and a large part of the team continues to work from home, is a challenge, but we are giving it our all. In addition to further updates we are also working on other projects, including the dedicated next-gen releases of both Cyberpunk 2077 and The Witcher 3, as well as an expansion for Cyberpunk".
A chart illustrating CD Projekt's involvement in various projects; yellow color indicates Cyberpunk 2077 + next-gen version, blue - the first expansion. Source: CD Projekt Group.
Additionally, GOG.com again reported a slight decrease in revenue (from PLN 109.79 ($28 million) to PLN 106.33 million ($27 million)). CD Projekt also mentioned further development plans. These include transferring the franchises belonging to the company to further "media and formats", but also "broadening of technological competence". (which was to result, among others, in the purchase of the Canadian studio Digital Scapes).
