Down Over 60% Year to Date, Can Unity Software Stock Rally?
In its first earnings report under Matt Bromberg, the new CEO of Unity Software (NYSE: U) slashed the company's guidance for the year and looked to reset expectations. It is the next step in trying to turn around a company that has seen its stock slump over 60% in 2024.
Let's take a close look at Unity's most recent earnings report and the potential for a turnaround.
Things started to turn south for Unity last fall when the company tried to introduce a new pricing structure that featured a "Runtime Fee" based on the number of users installing games built using its development engine. Customers revolted, and the company eventually had to walk back its plan, but the episode left many game developers angry and unwilling to trust the company.
Source Fool.com
