CD Projekt Red, the developer behind the Witcher series of games, has released their latest financial report for the last quarter of the year. The report was revealed during a conference in Warsaw, Poland and showed that the company has recorded a loss of 3.3 billion zlotys ($1.45 billion), which is significantly higher than the previous quarter. Analysts blamed Cyberpunk 2077’s delays and the lack of new content from the company.
After a turbulent few years, CD Projekt Red’s profits have plummeted. The Polish developer saw its net income plummet to 2.7 million zlotys ($655,000) in the first half of the 2019 fiscal year, which is what’s known as a “loss.” This is in contrast to a net income of 6.6 million zlotys ($1.3 million) in the same period last year.
The news keeps getting worse for CD Projekt Red, the studio that created the Witcher series. The company’s financials paint a bleaker future for the company, as profits were down by a third in the first quarter of this year compared to the same time last year, and the company expects that Cyberpunk 2077 will not be profitable until 2021.
Yesterday we reported that Cyberpunk 2077had lost its lead director Adam Badowski, but it appears that the latest news about the game is even more grim: Apparently, despite all the problems, the game did well in the first quarter late last year, but sales dropped so much that CD Projekt Red’s profits fell by more than 50% in Q2 2021. The company expected a profit of nearly $22 million, but only received about $9 million. The overall situation pending the return to the Sony store has not changed, a CDPR spokesperson told investors. We don’t have one of the big marketplaces and we do most of our selling through PC/digital channels. One of those big markets is, of course, PlayStation. Sony withdrew the game from sale on PlayStation devices after a failed launch and refund and has not yet re-released it. Reuters notes that the company’s shares lost 60% of their value before the release of Cyberpunk. The four class action lawsuits over the game have continued in consolidated form, and we are sure you have not forgotten the delay and disruption fiasco. Indeed, Peter Nelyubovich’s grimace in the thumbnail here sums it up.
. Cyberpunk 2077will of course remain a single-player game; plans for a multiplayer version are apparently on hold. ViewCD Projekt Red is a Polish game development and entertainment company that’s known for making some of the best RPGs the world has ever seen. Sadly, the company is going through some rough times lately. Just recently the sales for The Witcher 3: Wild Hunt, the company’s most popular title, took a hit with the release of Cyberpunk 2077. While Cyberpunk 2077 has become a massive hit for CDPR, it has also resulted in a major loss for the company’s bottom line.. Read more about crimson desert and let us know what you think.
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