CD Projekt Sees Profits Soar by Almost 90% Following Cyberpunk 2077: Phantom Liberty Success

CD Projekt has reported a substantial surge in sales and profits for the first half of 2024, as indicated by its latest financial reports. The company's sales saw a 30.7% increase from PLN 324.2 million ($84 million) to PLN 424.8 million ($109 million) compared to the same period last year. Meanwhile, its net profit rose to PLN 170 million ($43 million), marking an 88.7% year-on-year increase from PLN 90.2 million ($23 million) in the first half of 2023. This growth is largely attributed to the strong performance of Cyberpunk 2077, Phantom Liberty, The Witcher 3: Wild Hunt, and its expansions. Additionally, CD Projekt provided updates on its current projects, including the progression of the new Witcher saga, codenamed Project Polaris, into the production phase, and the initial groundwork for the next Cyberpunk title, codenamed Project Orion, at its Boston office. According to CD Projekt CFO Piotr Nielubowicz, 'Our financial results for the first half of 2024 not only surpassed the comparative period's profit by nearly 90% but also saw an increase in our financial reserves.' He further noted, 'Despite distributing almost PLN 100 million ($25 million) in dividends and allocating over PLN 150 million ($38 million) to new projects, our reserves grew by more than PLN 55 million ($14 million).'