CD PROJEKT earned nearly $50 million in revenue in Q1 2022

In the first quarter of 2022 CD PROJEKT has earned 216 million PLN, approximately $50 million in revenues.
Cyberpunk's Vi standing ready to fight
CD Projekt’s Q1 year over year revenue increased twice as much.

The polish video game giant CD Projekt released its full financial statement for the first quarter of 2022, stating that they’ve earned 216 million PLN in revenues.

The CD Projekt Group posted 69 million PLN ($16 million) profit for Q1 2022, doubling the number from the first quarter of the previous year. Per the official statement, the bulk of the revenues come from their latest AAA game Cyberpunk 2077, which had an impressive increase in sales after the release of the game’s next-gen console version.

The Vice President and CFO of CD PROJEKT, Piotr Nielubowicz said the company’s balance of cash, deposits, and treasury bonds also increased by 107 million PLN ($25 million) in the first three months of 2022. The Polish studio has high expectations for the second half of 2022 with Cyberpunk: EDGERUNNERS being released on Netflix and the release of The Witcher 3: Wild Hunt for next-gen consoles.

Adam Kiciński, the CEO of the CD Projekt Group went over how the next-gen version of Cyberpunk improved the sales figures, and talked about their upcoming expansion, saying the following lines:

“The bulk of our development capacity is currently dedicated to the major story-driven expansion for the game, which we plan to launch next year.”

Just a few months ago, CD Projekt announced the start of a long-term partnership with Epic Games, leaving behind their in-house game engine and focusing on developing games on Unreal Engine 5.

Related: Why are studios switching to Unreal Engine 5?

The experienced CEO also said they’re now done with the research phase for the first game in the new Witcher saga, and from this point on further development expenditures will be capitalized on the balance sheet.

You can read the full report here.

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