Gus Ruelas | Reuters
Video game software developer Unity Software’s stock fell 6% in after-hours trading on Thursday, as the company announced an increase in its net loss on third-quarter earnings.
This is what they reported:
- Loss per share: 97 cents
- income: $200.8 million
- Net loss: $1
CNBC did not compare the reported earnings and income with the estimates made in Wall Street’s first report as a public company because the uncertain number of shares may distort expectations.
The company’s net loss was US$144.7 million, an increase of 218% from US$45.5 million in the same period last year. However, revenue increased to US$200.8 million, an increase of 53.3% from US$130.9 million in the same period last year.
The company also announced that it expects fourth-quarter revenue to be between US$200 million and US$204 million. It is estimated that the full-year revenue in 2020 is expected to be between US$752 million and US$756 million. This will increase 38.8% to 39.5% over Unity’s revenue in 2019.
Unity provides developers with tools to create 3D titles for mobile phones, game consoles, and the web without having to write code for each platform. “Pokemon Go” and “Fall Guys: Ultimate Knockout” are games developed using Unity software. It is also used in games published by Electronic Arts, Take-Two Interactive, Tencent and Ubisoft.
Thursday’s earnings report is Unity’s first report since it went public in September.