Streetbeat News

OTGLY

CD Projekt S.A.

https://www.cdprojekt.com/

Industry

Other Gambling Industries

Open

11.69

Mkt cap

4.5B

Volume

High

11.80

P/E Ratio

41.85

52-wk high

12.57

Low

11.25

Div yield

0.01

52-wk low

6.10

CD Projekt ADR (OTC:OTGLY) reported a 90% surge in profits for the first half of 2024, driven by strong sales of Cyberpunk 2077 and The Witcher 3. The company saw a 30.7% increase in sales, reaching $109 million, and net profits rose to $43 million. CD Projekt is also investing in new projects, including the next Witcher and Cyberpunk installments.

Portfolio Pulse from Franca Quarneti

August 29, 2024 | 8:54 pm

The original Resident Evil game is now available on PC through a collaboration between Capcom ADR (OTC:CCOEY) and CD Projekt ADR (OTC:OTGLY) owned storefront GOG. Resident Evil 2 and 3 will also be available in 2024. This marks the first time the original game has been available on digital platforms since 1996.

Portfolio Pulse from Franca Quarneti

June 26, 2024 | 8:15 pm

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.

Portfolio Pulse from Franca Quarneti

April 01, 2024 | 7:29 pm

A Cyberpunk 2077 player discovered a new Easter egg in the game's main menu, revealed by clicking on the version number. The Easter egg, praised by game director Paweł Sasko, likely came with a recent patch. Additional Easter eggs and features have been introduced in the game, especially with the Phantom Liberty expansion and subsequent updates, enhancing gameplay with new systems and interactions.

Portfolio Pulse from Franca Quarneti

March 13, 2024 | 9:28 pm

Palworld, a game developed by Pocketpair, sold over 5 million copies in three days, surpassing major titles in sales pace. Despite its success, the game has faced controversy, including accusations of plagiarism from Pokémon and death threats to its developers. Pocketpair's CEO addressed the harassment and legal concerns, stating that Palworld underwent legal reviews. The game became the most-played on Steam with over 1.29 million concurrent players, setting records as the most-played Japanese game and second most-played paid game on Steam.

Portfolio Pulse from Franca Quarneti

January 22, 2024 | 7:30 pm

Valve's Steam has released its 'Best of 2023' list, featuring the top-selling and most-played games of the year. The list includes games from Electronic Arts Inc (EA), Microsoft Corp (MSFT), Warner Bros. Discovery Inc (WBD), CD Projekt ADR (OTGLY), and Capcom ADR (CCOEY). The rankings are based on sales revenue and concurrent player numbers from January 1 to December 15, 2023. New releases like Street Fighter 6 and Baldur's Gate 3 were among the high revenue generators, while Steam Deck highlighted Elden Ring and Cyberpunk 2077.

Portfolio Pulse from Franca Quarneti

December 29, 2023 | 4:19 pm

Stifel Financial Corp.'s 2024 gaming report suggests a weaker lineup compared to 2023, with potential challenges in sales performance. The report forecasts a decline in consumer spending on new console and PC games, but identifies Take-Two Interactive (TTWO) and Electronic Arts (EA) as favorable prospects. Take-Two's GTA VI is expected to be a growth catalyst, while EA's live services contribute to net bookings. The report is neutral on CD PROJEKT (OTGLY) and Ubisoft (UBSFF), and sees opportunities in Corsair Gaming (CRSR), Turtle Beach (HEAR), and Roblox (RBLX) due to their market segments. The industry's software development costs and developer headcount show positive trends, but their impact may not be immediate.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 3:11 pm

CD Projekt ADR (OTC:OTGLY) is focusing on the development of 'Polaris,' unofficially known as The Witcher 4, with nearly half of their development staff involved. The team is expected to grow to over 400 by mid-2024. Other projects include 'Sirius,' a Witcher-based game with multiplayer elements, 'Canis Majoris,' another AAA Witcher RPG, and a Cyberpunk 2077 sequel 'Orion.' Additionally, CD Projekt Red is working on an original IP 'Hadar.' Despite technological advancements with Unreal Engine 5, the complexity of these projects may extend development beyond the anticipated three years. The company has also experienced three rounds of layoffs this year, leading to the creation of the Polish Gamedev Workers Union.

Portfolio Pulse from Franca Quarneti

November 30, 2023 | 4:06 pm

Sony's Bungie, the developer behind Destiny 2, is facing layoffs and game release delays in 2023. The extent of the layoffs remains unspecified. Bungie's Destiny 2 expansion, 'The Final Shape,' has been delayed from February 2024 to June 2024, and their project 'Marathon' has been pushed to 2025. Other gaming studios, including CD Projekt ADR and Epic Games, have also faced layoffs in 2023.

Portfolio Pulse from Franca Quarneti

October 31, 2023 | 8:28 pm

Microsoft Corporation is set to launch 'Manor Lords', a PC city-building game, as part of its Day-One Game Pass lineup. The game, developed by Slavic Magic, will be available for early access release on Valve's Steam and CD Projekt ADR's GOG on April 26, 2024. 'Manor Lords' ranks third among Steam's most-wishlisted games.

Portfolio Pulse from Franca Quarneti

October 26, 2023 | 7:30 pm

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