The Witcher 3 Sales Drive Best Q1 Ever for CD Projekt as Cyberpunk 2077 Development Is Drawing To a Close

Today CD Projekt announced its financial results for the first quarter of 2020, related to the period between January 1 and March 31.

The company reported that in regards to both sales and net profit this is the best first quarter in its history. 

Revenue was over 2.5 as much as that of the first quarter of 2019, while net profit was 5 times as much. 

The largest contribution to this result comes from strong sales of the Witcher 3: Wild Hunt including the recently-released Nintendo Switch version. 

Another contributing factor is likely the growing popularity of video games during the COVID-19 pandemic. 

Below you can see a full breakdown of the studio’s financials.

We also hear that development of Cyberpunk 2077 is “drawing to a close” and 54 million PLN (about $13.5 million) were spent on new tech for video games during the quarter. 

The documentation mentions that the upcoming game “entered its final, most intensive pre-release development phase.”

“CD PROJEKT RED is carrying out with the final stage of development of its most expansive RPG to-date: Cyberpunk 2077. The game features a vibrant, high-tech open world, where players assume the role of V – a cyberpunk who has recently migrated to the most dangerous metropolis of the future: Night City. Cyberpunk 2077 gameplay follows the rules of the Cyberpunk 2020 RPG system created by Mike Pondsmith.”

We also hear more about CD Projekt’s ongoing move toward a dual-franchise model.

“The Company believes that maintaining the observed growth dynamics and expansion of the CD PROJEKT RED segment will depend on further enhancement of its world-class videogame development skillset and on maintaining effective communication channels with the global gaming community.

Managing two separate major franchises (The Witcher and Cyberpunk), along with several independent development teams, enables the Company to conduct parallel work on several projects and smoothens its long-term release schedule.

This migration towards a dual franchise model supported by several independent product lines also permits optimization of manufacturing and financial activities, mitigates important risk factors and makes it easier for Company employees to seek professional fulfillment.”