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Video game maker CD Projekt’s first-half earnings beat expectations

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Sep 7 (Reuters) – Polish video game maker CD Projekt (CDR.WA) plans to release a major expansion to its flagship game Cyberpunk, after reporting first-half net profit that beat expectations.

CD Projekt rose to prominence with “The Witcher” medieval fantasy video game series and was in the limelight after Cyberpunk’s troubled rollout in late 2020. read more

“We have decided to develop a major expansion to the Cyberpunk saga (….) we are totally committed to further developing Cyberpunk,” Michal Nowakowski, board member and head of business development, said on Wednesday during a press conference. a conference call.

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CD Projekt announced the title of its expansion to Cyberpunk on Tuesday. The expansion – “Phantom Liberty” – is set to release next year on PlayStation 5, Xbox Series X|S, PC and Stadia. Read more

The studio said in a blog post Tuesday that the Phantom Liberty expansion is the only one planned for Cyberpunk.

“(..) we really want to continue to build on what has been built right now with new stories, new experiences, new content, not just the video game format, and I’m going to leave it here,” said said Nowakowski, referring to Cyberpunk.

CD Projekt has released two expansions for the Witcher 3 video game.

CD Projekt’s net profit rose 8% to 113.7 million zlotys ($23.98 million), compared to 107 million zlotys expected by analysts.

The company’s revenue fell 20% year-on-year to 377.9 million zlotys.

Most of the revenue was generated from the Cyberpunk version of the next-gen consoles released in February, the company’s chief financial officer, Piotr Nielubowicz, said in a video commentary on the results.

CD Projekt has released several hotfixes and hotfixes for Cyberpunk and released the latest 1.6 patch on Tuesday.

Cyberpunk service costs fell 68% to 15.2 million zlotys in the January-June period, helping to reduce overall selling costs by 23% to 101.3 million zlotys.

The company plans to release a strategy update in October.

($1 = 4.7409 zlotys)

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Reporting by Anna Pruchnicka Editing by David Goodman and Jane Merriman

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