Unity shares are trading lower after the company reported mixed Q1 earnings and guided a 6-7% drop in strategic portfolio revenues for Q2.
Portfolio Pulse from Benzinga Newsdesk
Unity's stock is trading lower following mixed Q1 earnings results and the company's forecast of a 6-7% decline in strategic portfolio revenues for the second quarter.
May 09, 2024 | 8:17 pm
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Unity's shares are down after reporting mixed Q1 earnings and projecting a 6-7% decrease in strategic portfolio revenues for Q2.
The decline in Unity's stock price is directly related to the mixed Q1 earnings report and the negative revenue forecast for the next quarter. Investors typically react negatively to any forecasts of declining revenues, which can lead to a decrease in stock price in the short term.
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