CD Projekt's third-quarter profit doubles after 'Phantom Liberty' release

Karolina Kaluzynska, 28, plays CD Projekt's game Cyberpunk 2077 in Warsaw, Poland, December 14, 2020. REUTERS/Kacper Pempel/File Photo

GDANSK (Reuters) -Video games developer CD Projekt's third-quarter net profit doubled from a year earlier, it said on Tuesday, following strong demand for "Phantom Liberty", the long-awaited expansion to the company's flagship game "Cyberpunk 2077".

"Phantom Liberty", the Polish company's first major new game in nearly three years, was released on Sept. 26 and had sold over 4.3 million copies within two months.

The company reported a net profit of 202.9 million zlotys ($51.54 million) for the third quarter, beating the 162 million zlotys expected by analysts and up 105% from a year earlier. Revenue for the period rose 80% year on year to 442.7 million zlotys, it said.

"We are very pleased with the launch of Phantom Liberty. Successful release of the expansion, along with Update 2.0 which introduces a slew of additional improvements, elevates Night City gameplay to another level – in terms of quality," CEO Adam Kicinski said in the earnings statement.

"This is an important achievement given our plans to further develop the franchise," he added.

($1 = 3.9371 zlotys)

(Reporting by Adrianna EbertEditing by David Goodman and Susan Fenton)

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