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Why Unity Software Stock Died Friday Morning -- Then Got Better

TheMotleyFool

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Why Unity Software Stock Died Friday Morning -- Then Got Better: https://g.foolcdn.com/editorial/images/754694/gamer-playing-a-videogame-wearing-virtual-reality-goggles.jpg

Shares of 3D virtual reality company Unity Software (NYSE: U) plunged 12% at the open on Friday after reporting an earnings miss Thursday evening.

Heading into Q3, analysts had forecast Unity would earn $0.17 per share on $553.7 million in sales. Instead, Unity reported a $0.32 per share loss, and its sales fell short of expectations at just $544.2 million.

That sounds like bad news, and explains the steep early sell-off at Unity. On the plus side, the stock already seems to be recovering somewhat, and as of 10:05 a.m. ET Unity is down only 3.3%.

Source Fool.com

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