CD Projekt has shared its third-quarter financial results with investors, offering a peek into how the company is doing almost a year after the troubled launch of Cyberpunk 2077.
Despite an earth-shatteringly troubled launch, the prognosis is still good for the Polish developer, publisher, and game store operator. Revenue climbed 40 percent year-over-year, jumping from 104.5 million PLN (about $25 million) to 144 PLN (about $34 million). This revenue streamed in during the three-month period between July 1, 2021 and September 30, 2021.
Profit did dip year-over-year in this period, going from last year's 23.3 million PLN (about $5.6 million) to 16.2 million PLN (about $3.9 million). In a press release, CD Projekt says that the profit dip is due to increased costs both for managing development of Cyberpunk 2077 and "exploratory work on new projects."
Comparing year-over-year numbers is slightly fuzzy since at this time last year CD Projekt had not yet released Cyberpunk 2077. That means this is comparing a quarter with no new game releases (just older titles like The Witcher 3 and Gwent), to a quarter with both Cyberpunk and mobile game The Witcher: Monster Slayer out in the world.
Cyberpunk appears to have found its legs with sales numbers as developer CD Projekt Red saw 104.7 million PLN in revenue and 21 million PLN net profit during the quarter, both up year-over-year.
However, despite slight revenue gains year-over-year, the CD Projekt-owned game selling website GOG.com posted a loss of 4.8 million PLN on revenue of 41.8 million PLN. For context, GOG.com saw 40.5 million in revenue and 130,000 in profit for the same period in 2020. During a call with investors, a spokesperson for CD Projekt described the site's performance "does represent a challenge," and it appears to be making plans to reorganize that end of the business.
In other news, next-gen versions of Cyberpunk 2077 and The Witcher 3: Wild Hunt are scheduled for launch next year. Both should provide a shot in the arm for CD Projekt's revenue after a holiday season where more next-gen consoles make it into hands of players.
You can read more about CD Projekt's earnings here.