Why Unity Software Stock Is Skyrocketing Today
Unity Software (NYSE: U) stock is seeing explosive gains in Thursday's trading. The company's share price was up 28% as of 12:45 p.m. ET, despite the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both being down 0.7%.Unity published its fourth-quarter results before the market opened this morning and delivered sales and earnings performance that crushed the market's expectations. Adding to the sweetness of the report, the company also issued forward guidance that came in well above Wall Street's targets.Unity reported a loss per share of $0.30 on sales of $457.1 million in Q4, topping the average Wall Street analyst estimate's call for a per-share loss of $0.37 on sales of $433.47 million. While revenue for the period was down 25% year over year, the performance still came in far better than the market expected -- and there were clear bright spots on a category basis. The company has been shifting its monetization practices with long-term engagement in mind and aiming to improve profitability, and sales for the core strategic portfolio at the heart of this initiative were up 4% year over year to $423 million. Continue reading
Unity Software (NYSE: U) stock is seeing explosive gains in Thursday's trading. The company's share price was up 28% as of 12:45 p.m. ET, despite the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both being down 0.7%.
Unity published its fourth-quarter results before the market opened this morning and delivered sales and earnings performance that crushed the market's expectations. Adding to the sweetness of the report, the company also issued forward guidance that came in well above Wall Street's targets.
Unity reported a loss per share of $0.30 on sales of $457.1 million in Q4, topping the average Wall Street analyst estimate's call for a per-share loss of $0.37 on sales of $433.47 million. While revenue for the period was down 25% year over year, the performance still came in far better than the market expected -- and there were clear bright spots on a category basis. The company has been shifting its monetization practices with long-term engagement in mind and aiming to improve profitability, and sales for the core strategic portfolio at the heart of this initiative were up 4% year over year to $423 million.
