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Unity shares slide as the company posts a revenue miss and skips guidance - TL;DR CNBC

Unity shares slide as the company posts a revenue miss and skips guidance

Publishing timestamp: 2023-11-09 17:37:39


Summary

Unity Software reported a third-quarter revenue miss and refrained from issuing guidance. The company's revenue growth fell short of estimates, partly due to fallout from new rules on video games in China. Unity's revenue grew about 69% year over year, mainly due to an acquisition. The company's Create Solutions segment generated lower revenue, while the Grow Solutions segment saw an increase. Unity is undergoing changes and is uncertain about the timing. The company's shares fell 15% in extended trading.


Sentiment: MIXED

Tickers: UIBM

Keywords: international business machines corpenterprisebusinessbreaking news: earningsbreaking news: technologybusiness newsearningsunity software inctechnologyjohn riccitiello

Source: https://www.cnbc.com/2023/11/09/unity-u-earnings-q3-2023.html


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