CD Projekt Q1 net profit misses expectations

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(Reuters) -CD Projekt's first-quarter net profit fell 64.7% to 32.5 million zlotys ($8.87 million), missing market expectations, hurt by the costs of fixing its flagship "Cyberpunk 2077" game after its troubled launch, while foreign exchange losses also hit results.
"Cyberpunk 2077," featuring Hollywood star Keanu Reeves, was one of the most anticipated games last year. It was delayed three times, and after a bug-ridden premiere it has been delisted from Sony's PlayStation Store for more than five months.
CD Projekt did not say how many units of "Cyberpunk 2077" it sold in the quarter. Analysts have said sales were likely low, due to its absence from the PlayStation Store and release of a major patch just in late March.
"Lower than usual net profitability is mainly due to continuing depreciation of Cyberpunk 2077 development expenditures, work on updating the game, and R&D activities related to future projects," ...


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