Unity Software Inc. (U) Misses Q4 EPS by 88c

February 26, 2024 4:15 PM EST

Unity Software Inc. (NYSE: U) reported Q4 EPS of ($0.66), which may not compare to the analyst estimate of $0.22. Revenue for the quarter came in at $609 million versus the consensus estimate of $551.57 million.

"During the quarter, Unity and Wētā FX mutually agreed to terminate Unity’s service agreement and entered into a perpetual license agreement for Wētā FX’s internal use of Unity's Wētā tools. This transaction resulted in $99 million of incremental revenue, including the release of Wētā FX’s deferred revenue. Excluding this transaction, revenue would have been $510 million, down -2% year-over-year on a pro-forma basis."

"Going forward, we will guide revenue only for our Strategic Portfolio, as we expect that the non-Strategic portfolio will not be material for the year. We will report any non-strategic revenue separately so that you can track our underlying performance. In 2024, we expect another year of high engagement from gamers and new game launches."


Unity Software Inc. sees Q1 2024 revenue of $415-420 million, which may not compare to the consensus of $536.1 million.

Unity Software Inc. sees FY2024 revenue of $1.76-1.8 billion, which may not compare to the consensus of $2.32 billion.

For earnings history and earnings-related data on Unity Software Inc. (U) click here.

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