What's Going On With Unity Software Shares Friday?
Portfolio Pulse from Dylan Berman
Unity Software Inc. (NYSE:U) shares are rising after the company reported better-than-expected earnings for the 2024 fiscal year second quarter. Unity reported a loss of 32 cents per share, beating the estimated loss of 41 cents per share, and sales of $449.25 million, surpassing the expected $439.45 million. The company provided lower-than-expected revenue guidance for the third quarter and fiscal year. Additionally, Unity announced leadership changes with Mark Barrysmith as interim CFO and Jim Payne as Chief Product Officer for Advertising. Analysts have adjusted their price targets for Unity, with some lowering their targets.
August 09, 2024 | 4:20 pm
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Unity Software Inc. reported better-than-expected Q2 earnings, with a loss of 32 cents per share and sales of $449.25 million. The company provided lower-than-expected revenue guidance for Q3 and the fiscal year. Leadership changes were announced, and analysts adjusted their price targets.
Unity's better-than-expected earnings and sales figures are driving the stock price higher. However, the lower-than-expected revenue guidance for Q3 and the fiscal year may temper some of the enthusiasm. Leadership changes and analyst price target adjustments also play a role in the stock's movement.
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