CD Projekt ADR (OTC:OTGLY), the maker of popular video games like Cyberpunk 2077 and The Witcher, reported net profits exceeding $120 million in its annual earnings for 2023.
CFO Piotr Nielubowicz declared it as the company's second-best year ever. He attributed this success to the release of Phantom Liberty, 2023's Cyberpunk 2077's expansion pack.
Phantom Liberty had been purchased over 5 million times in 2023, according to IGN.
Nielubowicz lauded Phantom Liberty's impact, especially given the three-year gap since Cyberpunk 2077's debut, calling its sales "an excellent result."
However, it's worth noting that CD Projekt underwent a round of layoffs in summer 2023, reducing its workforce by around 9%. Nielubowicz described it as "an alignment of the scale and size of the team with the requirements of ongoing projects and the CD Projekt Group strategy."
These layoffs spurred the creation of the Polish Gamedev Workers Union, reflecting broader concerns within the industry regarding job security.
Moving forward, CD Projekt is reallocating more resources towards the development of The Witcher 4: Polaris as progress continues steadily. Additionally, the company is mapping out plans for its next Cyberpunk installment, known internally as Orion, alongside a forthcoming live-action project set within the Cyberpunk universe.
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— CD PROJEKT IR (@CDPROJEKTRED_IR) March 28, 2024
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