CD Projekt has announced a 49% decline in sales revenue for the third quarter of 2024
Today, CD Projekt Group disclosed its financial results for the third quarter of 2024, highlighting robust sales of Cyberpunk 2077 and The Witcher 3 despite a dramatic 49% drop in sales revenue compared to the previous year—from €102.7 million ($107.5 million) to €52.8 million ($55.2 million).
Since its release, Cyberpunk 2077 has sold over 30 million copies, and its expansion, Phantom Liberty, has achieved sales exceeding 8 million units.
Although there is a 67% decline in sales for Cyberpunk 2077 and its expansion, sales of The Witcher series have increased by 44% compared to last year.
The Numbers:
CD Projekt Group Q3 2024 financial results:
- Sales revenue: Decreased by 49% year-on-year to €52.8 million ($55.2 million)
- Net profit: Fell by 61% year-on-year to €18.1 million ($19 million)
The Highlights:
Overall performance this year is 15% lower than the prior year, with total earnings declining from €178.1 million ($186.4 million) to €151.4 million ($158.5 million). Additionally, net profit has decreased by 14% to this point in the fiscal year. Expenditure on research, development, and upkeep of products has increased by about 25% during this financial period.
As of July, the company's workforce has slightly increased from 639 to 650 developers, with most now working on the new Witcher saga known as Project Polaris.
CD Projekt has confirmed that Project Polaris, the initial part of the upcoming Witcher trilogy, has advanced to extensive production efforts.
"I am proud to announce that the Polaris team completed preproduction several weeks ago, allowing us to enter full-scale production, the most demanding phase of development," remarked joint-CEO Michał Nowakowski. "We are thrilled with the progress and express our gratitude to the team for their hard work."
