Unity shares sink on weak guidance
Publishing timestamp: 2024-02-26 18:44:20
Summary
Unity provided disappointing first-quarter forecast in its earnings report, causing shares to plummet 17% in extended trading. The company announced weaker-than-expected guidance for the current quarter, with a loss of 66 cents per share and lower adjusted earnings. Unity also mentioned a corporate restructuring plan that included job cuts and ending non-strategic efforts. Despite a 35% jump in fourth-quarter revenue, the company's future outlook fell short of analyst expectations.
Sentiment: NEGATIVE
Tickers: U,
Keywords: unity software inc, internet, earnings, business news, mobile, breaking news: technology, technology,
Source: https://www.cnbc.com/2024/02/26/unity-u-earnings-q4-2023.html