CD Projekt doubles profit on Cyberpunk 2077 sales

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CD Projekt doubles profit on Cyberpunk 2077 sales

The Polish video game maker CD Projekt has doubled its first-quarter net profit thanks to a boost in sales of its flagship game, Cyberpunk 2077, after months of fixing bugs.

The next-gen version of Cyberpunk, which was released together with a major update, had a positive effect on the game's perception and sales figures, especially on the console, according to Adam Kicinski, the company's chief executive.

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.

Finance chief Piotr Nielubowicz said most of CD Projekt's first-quarter revenue came 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, which owns The Witcher franchise, reported a 9 per cent increase in revenue to 216 million zlotys, topping the 207 million expected by analysts.

Selling costs dropped 2 per cent to 60.6 million zlotys, down by a 63 per cent fall in costs relating to the Cyberpunk service, but publishing costs increased by 87 per cent.