CD Projekt shares fall over 6%, extending post-earnings declines

Shares in CD Projekt plunged more than 6% in European trading Thursday, extending its recent declines triggered by the company’s latest earnings report.

Earlier in the week, the Polish video game developer reported stronger-than-expected net profit for the first quarter of 100.1 million zlotys ($25.6 million), up 44% year-over-year. Analysts were expecting a net profit of 76 million zlotys.

Sales revenue rose 30% year-over-year to 226.8 million zlotys, driven primarily by strong continued sales of Phantom Liberty, a feature expansion of their flagship game Cyberpunk 2077.

The company’s stock is down more than 10% in the past 5 days.

By Vahid Karaahmetovic

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