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Unity stock falls in first earnings since IPO after it reports loss

Unity stock falls in first earnings since IPO after it reports loss

John RiccitielloGus Ruelas | ReutersVideo game software developer Unity Software’s stock fell as much as 6% in after-hours trading on Thursday as the company posted widening net losses in its third-quarter earnings. Here’s what they reported:Loss per share: 97 centsRevenue: $200.8 millionNet loss: $144.7 millionCNBC does not compare reported earnings and revenue to Wall Street estimates for a company’s first report as a public company, as uncertain share counts can skew expectations.The company posted a net loss of $144.7 million, up 218% from a net loss of $45.5 million a year prior. Revenue, however, grew to $200.8 million, up 53.3% year-over-year from $130.9 million.The company also announced that it is expecting fourth-quarter revenue in the range of $200 million to $204 million. Full-year revenue outlook for 2020 is expected to be in the range of $752 million to $756 million. That would be up between 38.8% and 39.5% from Unity’s 2019 revenue.Unity gives developers the tools to create 3D titles for phones, consoles and the web without having to code for each platform. “Pokemon Go” and “Fall Guys: Ultimate Knockout” are among the games developed using Unity’s software. It’s also used for games published by Electronic Arts, Take-Two Interactive, Tencent and Ubisoft.Thursday’s earnings report is Unity’s first since the company went public in September.

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