Unity Gains as Q4 Earnings, Revenue Beat Expectations

·1 min read

By Sam Boughedda

Investing.com — Unity Software (NYSE:U) is up 15% after-hours after delivering fourth-quarter results that topped expectations.

Unity's shares had fallen over 9% in the regular session to $92.54 per share, but after hours it has rallied, recouping those losses, trading at $106.70.

The San Francisco-based firm announced a loss per share of $0.05 on revenue of $315.86 million. Analysts polled by Investing.com anticipated EPS of -$0.07 on revenue of $295.06 million.

"Unity's strong fourth-quarter and full-year results were driven by exceptional execution and innovation by the Unity teams," said John Riccitiello, President and CEO of Unity.

Unity's create solutions revenue was $99.9 million, operate solutions revenue came in at $194.6 million, while strategic partnerships and other income were $21.3 million.

Looking ahead, the company expects Q1 revenue to be between $315 and $320 million, in line consensus estimates of $315.3 million. Riccitiello added that the company believes its "transition from linear 2D to interactive real-time 3D, presents a massive growth opportunity for the next decades. "These are strong tailwinds that help us drive growth for years to come."

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