Unity’s (U) Q3 2023 earnings report was filled with interesting tidbits about the company behind the popular video game engine. This included information about how it’s altering its business model to sustain profitability for the foreseeable future and stay in the good graces of shareholders. Unfortunately, this means that Unity is prepping a reduction in operations, which means product discontinuations and more layoffs.
Unity shared the news on the fifth page of its earnings report today. The following quote outlines Unity’s plans to scale back in various areas of its business in the near future.
Source: Unity
It’s unfortunate to hear that more layoffs are planned at another major video game company. The report also includes the news that Unity isn’t expecting its Runtime Fees to be beneficial for its business in the next quarter. Pay a visit to our market news page for more insightful financial news.
Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_
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