Unity Software (NYSE:U) stock is rising higher Friday following the release of the game development tools company’s Q4 2021 earnings report.
Let’s dive into that news and other details investors need to know about U stock below!
- The earnings report kicks off with adjusted losses per share of 5 cents.
- That’s an improvement over the company’s adjusted per-share losses of 10 cents from the same time last year.
- It also beats out Wall Street’s estimate of -7 cents for the quarter.
- To go along with that, Unity Software reported revenue of $315.9 million in Q4 2021.
- That’s a 43% increase compared to the same period of the year prior.
- It’s also a highlight for U stock by coming in above analysts’ estimate of $295.71 million.
- Unity Software also provides strong guidance in its most recent earnings report.
- That includes revenue between $315 million and $320 million for Q1 2022.
- This would have it beating out Wall Street’s revenue estimate of $313.53 million.
- The company’s revenue estimate for the full year of 2022 ranges from $1.485 billion to $1.505 billion.
- That would also see it coming in ahead of analysts’ revenue estimate of $1.42 billion for the current year.
- Unity Software is the creator of the Unity game engine.
- Game engines are used by companies to develop games.
- This has Unity Software licensing its engine to other companies that then use it to create games.
- The company has been around since 2004 and several AAA game developers have made use of its engine.
- A few recent examples of games made with Unity include Genshin Impact, League of Legends: Wild Rift, Pokémon Brilliant Diamond and Shining Pearl, and Kingdom Hearts: Melody of Memory.
U stock is up 15.6% as of Friday morning.
There’s more stock market news for investors to jump into below!
We’ve got all the most recent stock market coverage that traders need to know about for Friday. Among that is why Pinterest (NYSE:PINS) stock is rising higher, what to know about the Snap (NYSE:SNAP) stock rally, as well as this morning’s biggest pre-market stock movers. You can find all of that at the following links!
More Stock Market News for Friday
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
