CD Projekt Red recently released its first quarter 2021 financial reports. Looking at these reports, it appears that the company has had to make significant changes to its Cyberpunk 2077 roadmap, but more importantly, its revenues have fallen considerably. According to reports, the company’s revenue fell about 64.7% to $8.84 million.
CD Projekt Red revenues decreased by 65%
Especially cd Projekt Red, which is experiencing its golden age following the release of The Witcher 3: Wild Hunt, as you know, Ceyberpunk is going through a problematic period after 2077. When we look at the financial reports published by the company, we see that this problem is also quite large financially. The company’s first quarter 2021 report was released, which showed revenue fell 64.7% to $8.84 million from $32.5 million. In analyst commentary, earnings were expected to be around $21.8 million.
In the statements, the biggest reason for this decrease was the effort to fix Cyberpunk 2077. According to Piotr Nielubowicz, CFO at CD Projekt Red, the time and budget spent fixing the game’s shortcomings have been the biggest source of this decline. On the other hand, it was stated that some of the investments made by the company going forward also caused the decrease in revenue. In other words, we know that the new games that will be released with the signature of CD Projekt Red started some time ago. We can say that these studies and R&D management are also a return to the company’s budget.
Despite this financial downturn, it was also stated that the company’s work on Cyberpunk 2077 will continue.
