[GameSpot] - CD Projekt Red Reports Major Profit And Revenue Growth Year-On-Year

[343iBot]

CD Projekt Red has released its earnings report for 2022, and it's looking good for the Witcher and Cyberpunk 2077 developer. The company boasted a 66% increase in net profit, driven by an increase in revenue, and a decrease in CDPR's overall operating costs.

The Polish company reported a revenue of 953 million PLN ($222 million USD) in 2022, up from 888 million PLN ($207 million USD) the previous year, and a net profit of 347 million PLN ($81 million USD), up from 209 million PLN ($49 million USD) in 2021. Despite the upwards trend, CDPR hasn't managed to hit the same level of success it saw in 2020, when Cyberpunk 2077's release caused a massive revenue spike that took its yearly profit to a massive 1.15 billion PLN ($268 million USD).

In its profit and loss breakdown, CDPR showed a 7% increase in revenue year-on-year, a modest figure that's nevertheless impressive two years after the company's last major game release. Despite its rough launch, Cyberpunk 2077 has seen solid sales after CDPR committed to fixing the game's initial issues and adding extra content, with the success of Netflix's Edgerunners anime giving it an extra boost in late 2022.

The company also reported an 18% decrease in operating costs, which helped shore up its net profits. Most of these savings came from sharp decreases in the money spent on updating and improving Cyberpunk 2077, as well as research phase costs for upcoming projects--two elements CDPR pointed to as reasons for the decline in profit in 2021.

CD Projekt Red shed more light on its major projects as part of the earnings report, discussing the decision to restart development on the Witcher universe's Project Sirius. It also teased that the marketing campaign for Cyberpunk 2077 expansion Phantom Liberty would be starting this June.

View the full article