Published , by Donovan Erskine
Published , by Donovan Erskine
Unity (U) has released its Q3 2022 earnings report, detailing its financial performance over the past three months. The company came in just below revenue expectations and was on par with EPS expectations. The report also included some guidance for the upcoming quarter and the rest of the financial year. While the fiscal year guidance is slightly down, Unity has a better-than-expected outlook for Q4 2022.
Unity (U) shared its guidance for the rest of the fiscal year under the outlook section of its Q3 2022 earnings report. For the full fiscal year, the company is projecting between $1.365 and $ 1.385 billion in revenue. This is a slight decrease in what the company was expecting previously. However, the company has provided guidance for Q4, which is higher than expected. Unity (U) is currently eyeing between $425 - $445 million for the upcoming period.
Unity (U) stock hit a daily low of $18.50 following the news of its report. It was as high as $23.30 earlier this morning. In after-hours trading, the stock began to climb a little bit, but plateaued before it could reach its valuation before the markets closed.
It’s an interesting outlook to say the least. Especially for a company that has found itself in hot water more than once this calendar year. CEO John Riccitiello brought some bad press following comments about mobile development monetization, which he later apologized for. The company was nearly acquired by AppLovin, which eventually abandoned that deal.
The guidance news comes from the Q3 2022 Unity (U) earnings report. For more financial news as it relates to the gaming and tech industries, stick with Shacknews.