Unit software (NYSE:you) shares rise on Friday after the release of the game developer tools company’s fourth quarter 2021 earnings report.
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Let’s dive into this news and other details investors need to know about U shares below!
- The revenue report starts with adjusted losses per share of 5 cents.
- That’s an improvement from the company’s adjusted per-share loss of 10 cents from the same period last year.
- It also beat Wall Street’s estimate of -7 cents for the quarter.
- To accompany this, Unity Software reported revenue of $315.9 million in the fourth quarter of 2021.
- This is an increase of 43% compared to the same period of the previous year.
- It’s also a high point for U stock, beating analysts’ estimate of $295.71 million.
- Unity Software also provides strong guidance in its latest earnings report.
- This includes revenue between $315 million and $320 million for the first quarter of 2022.
- That would make him beat Wall Street’s revenue estimate of $313.53 million.
- The company’s full-year 2022 revenue estimate ranges from $1.485 billion to $1.505 billion.
- It would also see it beat 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 allowed Unity Software to license its engine to other companies who then use it to make games.
- The company has been around since 2004, and several AAA game developers have used its engine.
- Some 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 shares are up 15.6% on Friday morning.
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As of the date of publication, William White had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
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