CDPR’s Net Profit Surges 504% Amid Cyberpunk’s Post-Edgerunners Revival
The last quarter of 2022 has almost ended, and the past month was packed with gaming and tech giants reporting their quarterly financial reports. Similarly, today CD Projekt Red released its financial report for Q3 of 2022.
— CD PROJEKT IR (@CDPROJEKTRED_IR) November 28, 2022
The company has reported record-breaking financial gains thanks to the recent resurgence in the sales and player count of Cyberpunk 2077 due to the critically acclaimed release of Cyberpunk: Edgerunners, an animated tv show based on the game released on Netflix this year.
The tv show became a pivot point for Cyberpunk 2077 to attract huge numbers of players to experience the life of Night City again. Not only Cyberpunk: Edgerunners was a great addition to the franchise, but the dedication of the devs behind the game has also paid off, who have worked hard to make the game stable and bug-free after a disastrous launch in 2020.
Cyberpunk 2077 has come a long way since its release, and the CDPR’s extremely positive financial report is the result of the team’s collective effort. CD Projekt Red has reported an impressive revenue growth of +70% YoY ($54.5 million) with a whopping YoY net profit gain of +504% ($21.9 million).
CD Projekt Group’s CFO, Piotr Nielubowicz, summarized their Q3 2022 earnings report and, according to him:
In terms of financials, this was the best third quarter in our entire history. With consolidated revenues at 246 million PLN [$54.6m]– mostly owing to strong sales of Cyberpunk–the Group posted 99 million PLN [$21.3m] in net profit.
This translates into a net profitability of 40% for the whole Group, and a whopping 47% for the CD Projekt Red segment.
We carry on with intensive development work on the Cyberpunk expansion, as well as on other projects.”
Undoubtedly, the financial figures reported by CDPR are impressive. Furthermore, it is fascinating to see that the gamers gave Cyberpunk 2077 a chance after almost 2 years of its release, and all the hard work by the devs during this period paid off.
So, what are your thoughts about CDPR’s Q3 2022 financial report? Let us know in the comment section below.
