CD Projekt Q1 2017 Financial Results Exceed Expectations; GWENT Future Outlined
CD Projekt's Q1 2017 exceeds expectations on the back of The Witcher 3: Wild Hunt. Meanwhile, digital marketplace GOG reports astronomical year-on-year profit increase.
Today, CD Projekt — who you may recognize from GOG.com or in-house game developer CD Projekt Red — reported its financial results for Q1 2017, revealing a quarter that once again exceeded the Polish company’s expectations.
According to the CD Projekt, as a whole, its net profit rose year-on-year by 39% from $8.7 million (32.5 million PLN) to $12 million (45 million PLN) compared. This number greatly exceeded the company’s expectations, who predicted a net income of around $7.9 million (29.5 million PLN).
Meanwhile, CD Projekt Red (the company’s in-house game developer) saw a net profit increase from 32.3 million PLN to 43.7 million PLN, a 35% increase year-on-year.
According to CD Projekt, a substantial amount of income was propelled by continued sales of The Witcher 3 and its two expansion Hearts of Stone and Blood and Wine (the aforementioned two released in 2015, while the latter hit in 2016). Looking ahead, CD Projekt predicts sales of The Witcher 3 to be strong throughout the year, bolstered by seasonal sales.
During the quarter, CD Projekt Red spent $4.2 million (16 million PLN) on the development of GWENT: The Witcher Card Game and Cyberpunk 2077, with total research and development costs reaching $21 million (79 million PLN).
Digital marketplace and subsidiary of CD Projekt, GOG, saw an astronomical rise in regards to net profits year-on-year, rising 495%.
Lastly, a future outline of the aforementioned GWENT was laid out. The outline includes: new game modes, paid single-player campaigns, more languages, entering the Chinese market, intensive marketing support on a larger scale than previously, and further tournaments and gaming events.
As you may know, GWENT: The Witcher Card Game is a free-to-play game gameplay based and evolved on the mechanics of The Witcher 3: Wild Hunt‘s in-game dueling deck constructor. It launched into open beta yesterday, and is slated to hit PS4, Xbox One, and PC via a full release later this year. Meanwhile, RPG Cyberpunk 2077 is still without a release date. It is in development for the same platforms.