Unity Software ($U) shares plummeted by 15% after reporting its Q4 earnings. The company beat revenue expectations with $609 million but had a lower Q1 forecast of $415-420 million. The FY24 strategic portfolio revenue is projected to be $1.76-1.8 billion. Unity posted an EPS of -$0.66, missing the expected -$0.45, resulting in net profits of -$254 million. Despite revenue growth to $2.2 billion in 2023, cost-cutting measures include a 25% workforce reduction and office closures.
Unity’s stock falls as Wall Street wonders if company’s reset is ‘dubious’ or a ‘floor’ https://t.co/ArSInJVPyy
$U (-13.7% pre) Unity stock tumbles after Q4 earnings miss and disappointing outlook - inv https://t.co/qjvmvMmDhb
⚠️ 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…
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
$U is down more than 15% AH following the release of its Q4 earnings report. It is easy to tell why: Unity posted a negative EPS of $0.66 versus the $0.22 in positive EPS that analysts expected. Revenue would likewise have missed if not for a one-time WetaFX transaction of $99m
$U Unity reports Q4 revenue up 35% YoY to $609M, vs. $551M est., down 2% YoY to $510M excluding a Wētā FX deal, Q1 sales guidance far below est.; drops 15%+ https://t.co/DbYItj2RJG
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 reports Q4 revenue up 35% YoY to $609M, vs. $551M est., but down 2% YoY to $510M excluding a Wētā FX deal, Q1 sales guidance far below est.; U drops 15%+ (@emilybary / MarketWatch) https://t.co/SIJ8oX4y8L 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/YKGTRGRP5c
Unity’s stock crumbles as earnings, forecasts underwhelm https://t.co/uwTVJft98W
$U (-17% after-hours) Unity is bringing all the bears out after posting net profits of -$254 million https://t.co/odiqrBj6kz
$U (-17% after-hours) Unity is uniting all the bears together after posting net profits this quarter of -$254 million https://t.co/nWY4lm0dBg
UNITY SOFTWARE $U JUST REPORTED EARNINGS EPS of -$0.66 missing expectations of -$0.45 Revenue of $609.3M beating expectations of $551.2M
Unity $U down 15% after not mentioning AI like $ZM Zoom -Rev 4Q23 beat $609mn vs est 551mn -But sees 1Q meaningfully lower than exp for strategic portfolio revenue of $415-420mn -Sees FY24 strategic portfolio revenue of $1.76bn-1.8bn https://t.co/9lLEMgf6W5
Unity $U down 15% after not mentioning AI like $ZM Zoom -Rev 4Q23 beat $609mn vs est 551mn -But seed 1Q lower for strategic portfolio revenue of $415-420mn -Sees FY24 strategic portfolio revenue of $1.76bn-1.8bn https://t.co/dXSqF9lvMC
🚨 $U Q4 Earnings 🚨 • EPS ($0.65) vs Est. ($0.45) • Sales $609M vs Est. $554M https://t.co/dCtUutkQAo