CD Projekt SA reported on Monday that its profit fell by more than half in the first quarter from a year earlier as its flagship game, "Cyberpunk 2077," was kept off Sony's PlayStation Store, which a company official said will continue to impact results.
Net profit in the first quarter fell 64.7% to 32.5 million zlotys, well below the 80 million zlotys expected by analysts, impacted by depreciation of Cyberpunk 2077 development expenditures and work on fixing the game. Revenue fell 2% to 197.6 million zlotys ($53.94 million).
"The general situation as long as we are not back on the Sony store has not changed. One of the leading marketplaces for us is not available and we generate most of the sales on the PC/digital channels," a company official told the conference call.
Future sales growth, though, depends on its ability to re-engage Cyberpunk players. It confirmed plans to publish free downloadable content and update both Cyberpunk and The Witcher 3 to next-generation consoles in the second half.
Q1 Results presentation
Containing patch crash rate graph...
Profit and Loss Account details: