Unity Software Delivers Softer Guidance After Q1 Revenue Falls Short; Shares Fall

2022.05.11 00:16

By Yasin Ebrahim

Investing.com — Unity Software reported Tuesday guidance that pointed to softer growth ahead and first-quarter results that fell short of Wall Street estimates.  

Unity Software Inc (NYSE:U) fell more than 33% in afterhours trading following the report. 

The company reported a Q1 loss of $0.08 a share on revenue of $320.1 million. That compared with Wall Street estimates for a loss of $0.08 a share on revenue of $320.7 million.

Looking ahead, the company said it expects second-quarter revenue in the range of $290 million to $295 million, missing expectations for $359.7 million. 

For the full year, Unity forecasts sales of $1.35 billion to $1.43 billion, well below estimates for $1.49 billion. 

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