(Reuters) -CD Projekt, Poland’s biggest video game developer, reported on Tuesday that its third-quarter net profit fell 61.5%, as it did not release any new games this year.
Net profit was 78.1 million zlotys ($18.97 million), which still beat analyst expectations of 73 million zlotys.
Revenue for the period fell 49% from a year ago to 227.6 million zlotys. In September last year, the company released the long-awaited expansion to its flagship game “Cyberpunk 2077”, which boosted its results for all of 2023.
“We’re looking back at another very strong quarter. Cyberpunk 2077 and its Phantom Liberty expansion continue to sell very well, but The Witcher 3 is also performing admirably”, company CFO Piotr Nielubowicz said in a statement.
CD Projekt said it has entered full-scale production of Polaris, the first instalment in the new Witcher saga. As of Oct. 31, 400 developers were working on the project.
It also had 64 developers working on a Cyberpunk sequel under the code name Orion.
The total post-release sales of “Cyberpunk 2077” topped 30 million copies, while Phantom Liberty expansion has sold over 8 million copies.
($1 = 4.1165 zlotys)
(Reporting by Adrianna EbertEditing by David Goodman and Bill Berkrot)
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