Unity (U) forecasts 2023 revenue above analyst expectations, projects profitable year

The Unity company raised its guidance as of its Q1 2023 earnings results, claiming it could see revenue between $2.08 billion and $2.2 billion in FY 2023.

Image via Unity

Unity was one of the latest major tech companies to post its quarterly results and there was some very interesting information in there, especially regarding the company’s full-year guidance. Unity’s Q1 2023 earnings results showed a beat on revenue expectations, and with it, the company raised its expectations on revenue for FY 2023, pushing above analyst estimates.

Unity shared its raised FY 2023 guidance in the release of its Q1 2023 earnings results on its investor relations website. Analysts expected company’s full-year guidance on revenue for FY 2023 to be set around $2.1 billion. However, in its Q1 2023 results, Unity set its refreshed revenue guidance at $2.08 billion on the lowest end and $2.2 billion on the highest end, setting the average above analyst expectations.

Unity (U) Q1 2023 raised guidance
Unity (U) raised its FY 2023 following a revenue beat in its Q1 2023 results.
Source: Unity

Unity’s raised guidance comes as the company’s Q1 2023 results reported a beat on revenue. Where the company was expected to pull in around $480 million in revenue, it instead pulled $500 million. It wasn’t without some chaos. The company reported layoffs that led to 600 employees getting the axe. The company also announced that it would be making moves to get into the AI craze with AI tools built for its creative suite and app development.

Nonetheless, with Unity raising its guidance, it seems the company is confident in the future of its fiscal 2023. Stay tuned as we continue to watch for further earnings results from other tech companies as they report.

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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