Is Unity Software Stock a Buy Now?
Unity Software (NYSE: U) posted its fourth-quarter earnings report on Feb. 26. The gaming software developer's revenue rose 35% year over year to $451 million, which exceeded analysts' expectations by $56 million. However, that figure was significantly inflated by its shutdown of Weta Digital, which resulted in the release of its deferred revenue during the quarter, as well as inorganic gains from its merger with the ad tech company ironSource last November.
Excluding those two factors, Unity's revenue fell 2% year over year on a pro forma basis to $510 million. It narrowed its net loss from $299 million to $254 million, or $0.66 per share, but it still broadly missed the consensus forecast by $0.21 per share.
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Source Fool.com
