GDANSK, May 28 (Reuters) – CD Projekt (CDR.WA), a Polish video game developer, reported a larger-than-expected 44% increase in first-quarter net profit on Tuesday, boosted by higher game sales.
Net profit was 100.1 million zlotys ($25.6 million), compared to analyst expectations of 76 million zlotys.
Sales revenue for the period increased 30% year on year to 226.8 million zlotys, owing primarily to continued strong sales of Phantom Liberty, a feature expansion of the flagship game Cyberpunk 2077.
The company does not plan to release major games in the next few years. According to finance chief Piotr Nielubowicz, the company needs to invest in new projects.
“This is something we’re well prepared for, owing to our cash reserves which we have accumulated over the years,” he added. “We also count on continuing strong sales of our back catalogue.”
The company’s new projects include the first installment of a trilogy expanding on the blockbuster “The Witcher” medieval fantasy franchise.
The Polaris project, which had 407 people working on it as of April 30, is expected to begin production in the second half of the year. Analysts anticipate that it will debut in 2026 or 2027.
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