Unity Software experienced significant volatility following its latest earnings report, which revealed a net loss of $254 million for the quarter. Despite a reported 11.5% increase in stock value over the last year and an anticipated EPS of $0.24, the company's shares plummeted by 17% after-hours and up to 20% in extended trading. This downturn was attributed to weaker-than-expected earnings and forecasts, prompting Unity to announce its decision to exit some businesses to concentrate on its core offerings for video game developers. Additionally, Unity disclosed a revenue growth to $2.1 billion in 2023, a 57% increase, but also highlighted cost-cutting measures including a 25% reduction in its workforce, office closures, and scaling back its Professional Services unit. These developments led to a significant market reaction, with Unity's market cap dropping by $5 billion. The company's full-year financials also indicated a narrowing of its net loss to $826.3 million, and shares sank 15% in premarket trading.
Unity Software tumbles as gloomy forecast signals turnaround taking time https://t.co/0TYPDYu6Ek https://t.co/pxF5x4jGMR
$APP is still a good play at $60, but will head lower with the overall market. It is executing better, growing faster and has better operating metrics than $U I did a video deep dive. https://t.co/yUwabwNnSN https://t.co/6p5BtHczKD
$U off its day low at $27 range, but 3% "Growth" in 2024 is still challenging Yes it is down 35% so far this year, but I dont see a point in buying $U when $APP is executing very well and is under hyped https://t.co/kgsAS3ScAN
Unity's full-year net loss narrows to $826.3 million https://t.co/w9bflRPJ9O
$UPR.IR #Uniphar FY-23 results...revenue/gross profit up 24%+ & EBITDA up +18%, but EPS growth at a standstill due to increased financing costs: https://t.co/YudbROgBXV 41% rally in the stock over the last 3 mths now leaves it trading on a 15.2 P/E... https://t.co/oXQOwGSvDx
Unity’s stock falls as Wall Street wonders if company’s reset is ‘dubious’ or a ‘floor’ https://t.co/ArSInJVPyy
Unity Software Stock Tumbles. Wall Street Is Split Over Its Reset Plan. https://t.co/ieCDLaXsg3
⚠️ UNITY SOFTWARE TUMBLES AS GLOOMY FORECAST SIGNALS TURNAROUND TAKING TIME (Reuters) Unity Software shares sank 15% in premarket trading on Tuesday after the videogame software provider's 2024 forecasts came in below Wall Street estimates, a sign that its turnaround was taking…
Unity revenue rises 57% to $2.1 billion in 2023 https://t.co/fSoVWf755C #gamedev #gamedevelopment #unity3d #indiedev
Unity says laying off 25 percent of staff was about "reigniting revenue growth" The engine maker intends to continue exploring "optimization opportunities" during the current fiscal year https://t.co/7WHjTwuHdC https://t.co/MMzEXWvXiV
Unity released its fourth quarter full-year financial earnings for 2023 yesterday, which saw a jump in revenue and decrease in net losses both in its Q4 and FY 2023 results https://t.co/w9bflRPbkg
$U Unity lost $5 billion market cap in AH last night, they gave $APP a shout out for kicking their ass and having a better product, that loss *should* largely accrue to APP $70 incoming soon imo https://t.co/ojwFrhEhig
Interesting that Unity $U crushed sales but lost a lot of $… Probably has to do with laying off 25% of the company. https://t.co/rdpZkCmMfB
Unity shares fall 18% despite revenue growth to $2.2 billion in 2023. Company's cost-cutting measures include 25% reduction in workforce, office closures and pulling back from its Professional Services unit https://t.co/I8QpChkuWm https://t.co/9N62VZflFq
Unity shares sink on weak guidance https://t.co/LEOusHuvUn
Unity Software fell as much as 20% in extended trading after announcing it will exit some businesses to focus on its main products for video game creators. https://t.co/RkSkEONXpr
Unity’s stock crumbles as earnings, forecasts underwhelm https://t.co/uwTVJft98W
$U (-17% after-hours) Unity is uniting all the bears together after posting net profits this quarter of -$254 million https://t.co/nWY4lm0dBg
$U is the most volatile stock heading into earnings tonight, here's what you need to know: The implied volatility is ~12.5% The market is expecting an EPS of $0.24 The stock is up 11.5% over the last year https://t.co/9FpSe3nroM