CD Projekt RED Continued to Lose Revenue in the First Quarter of 2021
Poland-based game studio CD Projekt RED did not make a good start to 2021 either.
Poland-based game studio CD Project RED, which has made a name for itself with The Witcher and Cyberpunk 2077 games, has recently shared its financial reports for the first quarter of 2021. According to the announced reports, CD Projekt RED did not have a good first quarter of 2021.
Cyberpunk 2077 Patches Cut CD Projekt RED Revenue
CD Projekt RED made a presentation for the first quarter of 2021. In this presentation, financial results for the first quarter were shared. According to the statements made, CD Projekt RED’s revenues dropped by 65 percent in the first quarter of 2021. CD Projekt RED’s revenue fell from $32.5 million to $8.84 million.
Piotr Nielubowicz, CFO of CD Projekt RED, explained in his statement that the main reason for this big drop in the first quarter was the patches released to fix the Cyberpunk 2077 game. As it is known, many patches have been released for the Cyberpunk 2077 game, especially two major patches, and the game is still not fully fixed. Piotr Nielubowicz also explained in his statement that another reason for the decline in the company’s revenues is the R&D fees the company spends on future games. It is a matter of curiosity how the further processes will take place for CD Projekt RED.