Unity Software Jumps After Loss Widened, Revenue Beat

Unity Software  (U) – Get Report shares climbed after the videogame publisher, in its first report as a public company, posted a wider-than-expected third-quarter net loss and revenue beat estimates.

Shares of the San Francisco publisher of games including “Lego Microgame” and “Fall Guys” at last check moved up 10% to $111.97.

The software company’s net loss widened to $144.5 million, or 97 cents a share, from a loss of $45.7 million, or 75 cents, in the year-earlier period.

Revenue jumped 53% to $200.8 million from $130.9 million. 

A survey of analysts by FactSet produced consensus estimates of a GAAP net loss of 33 cents a share, or an adjusted loss of 15 cents, on revenue of $186.9 million.

Customers that generated more than $100,000 of revenue increased to 739 from 553 a year earlier.

“Our robust growth has reinforced our confidence in the fundamental strength of our business model, and in the long-term opportunity that we see ahead,” Chief Financial Officer Kim Jabal said in a statement.

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