This Is One Of The Most Profitable Video Game Makers You've Probably Never Heard Of: How It Made $120M In Net Profit Last Year
Portfolio Pulse from Franca Quarneti
CD Projekt ADR (OTC:OTGLY), a leading video game developer known for Cyberpunk 2077 and The Witcher, reported a net profit of over $120 million for 2023, marking its second-best year. The success was largely attributed to the release of the Cyberpunk 2077 expansion pack, Phantom Liberty, which sold over 5 million copies. Despite this success, the company faced layoffs in summer 2023, reducing its workforce by 9%. Looking ahead, CD Projekt is focusing on the development of The Witcher 4: Polaris and planning its next Cyberpunk installment, Orion, along with a live-action Cyberpunk project.
April 01, 2024 | 7:29 pm
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CD Projekt ADR reported a significant net profit of over $120 million in 2023, driven by the success of the Cyberpunk 2077 expansion, Phantom Liberty. The company also announced layoffs and future projects including The Witcher 4 and a new Cyberpunk installment.
The reported net profit and the success of Phantom Liberty are likely to positively impact investor sentiment towards OTGLY in the short term. However, the layoffs might raise concerns about the company's long-term stability and operational efficiency. The announcement of future projects like The Witcher 4 and a new Cyberpunk installment indicates a strong product pipeline, which could further bolster investor confidence.
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