Market Analysts Surprised by CD Projekt RED Report Showing New Revenue Source

Some financial specialists are now raising their financial forecasts.

CD Projekt RED recently published a financial report that surprised market representatives and analysts. In the second quarter, the company surpassed expectations with sales revenue of approximately 244 million Polish zlotys (about $66 million), which is a 13% increase compared to the same period last year. The reported net profit reached 142.9 million zlotys ($38.5 million), marking a 107% year-over-year growth.

For the first half of the year as a whole, CD Projekt RED reported revenue of 435.3 million zlotys (a 23% increase; about $117 million), while net profit exceeded 249 million zlotys (a 37% increase; $67 million).

Analysts noted that the key surprise for them was revenue from intellectual property (franchise) licensing. Grzegorz Balcerski from Trigon stated that generating nearly 100 million zlotys (almost $27 million) over six months significantly reduces the short-term impact of The Witcher 4 delay.

Previously, CD Projekt RED announced that The Witcher 4 will be released in 2028, although many had assumed the release might take place in 2027.

During the first half of the year, franchise licensing brought CD Projekt RED 95 million zlotys (or $25.6 million), compared to 9.4 million zlotys ($2.5 million) earned during the same period last year. This growth is attributed to the success of the Cyberpunk Trading Card Game Kickstarter campaign, as well as a collaboration with Wuthering Waves and other partnership agreements whose details have not yet been disclosed. The company currently collaborates with more than 100 partners.

CD Projekt RED is now preparing for the release of The Witcher 3: Wild Hunt remaster, which is scheduled for September 29 of this year. The story expansion Songs of the Past is planned for release in 2027.