Why there could be a better stock to buy in the space. In its first earnings report under Matt Bromberg, the new CEO of Unity Software (U 6.84%) slashed the company's guidance for the year and looked to reset expectations. It is the next step in trying to turn around a company that has seen its stock slump over 60% in 2024. Let's take a close look at Unity's most recent earnings report and the potential for a turnaround. Slashing guidance Things started to turn south for Unity last fall when the company tri ...

Investment Rating - The report maintains a "Buy" rating for Unity (U.US) with a target price adjusted to $20, reflecting a potential upside of 29% from the current price of $15.54 [3][5]. Core Insights - Unity's Q2 2024 revenue reached $449 million, aligning with expectations, while strategic segment revenue was $426 million, and adjusted EBITDA was $113 million, both exceeding prior guidance. However, the company has lowered its full-year guidance for 2024 due to cautious outlook on the recovery of its Grow business and increased investments [2][3]. - The Create Solutions segment showed stable growth with Q2 revenue of $129 million, a 4% year-over-year increase, driven by a 14% rise in subscription revenue. The upcoming release of Unity 6 is anticipated to be a growth driver for the company [2][3]. - The Grow Solutions segment continues to face challenges, with Q2 revenue of $296 million, a 9% year-over-year decline. The company is enhancing its advertising technology capabilities and has appointed a new Chief Product Officer to revitalize its advertising business [2][3]. Financial Summary - For FY 2024, Unity's projected revenue is $1.763 billion, down from previous guidance of $1.760-$1.800 billion, reflecting a year-over-year decline of 2%-3%. Adjusted EBITDA is expected to be between $340 million and $350 million, down from earlier estimates of $400 million to $425 million [3][4]. - The forecasted financial metrics include a revenue increase from $1.391 billion in FY 2022 to $1.763 billion in FY 2024, with adjusted EBITDA improving from a loss of $71 million in FY 2022 to a projected $405 million in FY 2025 [4][8]. - The report highlights a significant decline in net profit projections, with expected losses of $737 million in FY 2024 and $474 million in FY 2025, indicating ongoing challenges in profitability [8][9].

Vladimir Vladimirov/E+ via Getty Images We previously traded Unity Software Inc. (NYSE:U) a few years ago, before rates started rising. When rates started rising, many unprofitable or barely profitable, revenue growth tech type companies fell out of favor in a bad way. A few months ago, we labeled Unity a speculative buy after it got beaten down following Q1 earnings. However, shares have continued to face pressure. We continue to assert that the revenue declines are temporary, but it is now a "show me" sto ...

Since going public, the stock is down 80%. In this video, I will talk about Unity Software's (U 3.09%) second-quarter earnings report. Check out the short video to learn more, consider subscribing, and click the special offer link below. *Stock prices used were from the trading day of Aug. 8, 2024. The video was published on Aug. 8, 2024. ...

Unity Software Inc. (U) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.44. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 27.27%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.15, delivering a surprise of 200%. Over the last four quarters, the company has ...

Unity Software Inc. (NYSE:U) Q2 2024 Earnings Call Transcript August 8, 2024 5:00 PM ET Company Participants Daniel Amir - VP and Head of IR Matt Bromberg - CEO Luis Visoso - CFO Conference Call Participants Clark Lampen - BTIG Matt Cost - Morgan Stanley Ross Sandler - Barclays Gili Naftalovich - Goldman Sachs Dylan Becker - William Blair Parker Lane - Stifel Josh Tilton - Wolfe Daniel Amir Welcome to Unity's Second Quarter 2024 Earnings Call. My name is Daniel Amir, VP and Head of Investor Relations. After ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, $0.000005 par value U The New York Stock Exchange FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ____ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 8, 2024 | --- | |--------------------------------------------------------------------------------| | UNITY SOFTWARE INC. (Exact name of registrant as specified in its charter) | | 001-39497 | | (Commission File Number) | | 30 3rd Street | | San Francisco, California 94103 ‑ 3104 | | | | ...

The investment community will be closely monitoring the performance of Unity Software Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company's earnings per share (EPS) are projected to be -$0.44, reflecting a 728.57% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $433.43 million, indicating a 18.76% decrease compared to the same quarter of the previous year. Research indicates tha ...

The growth potential and better valuation are there. But can the software company make improvements to the bottom line? In 2021, the metaverse was creating the loudest buzz in the investing world, and Unity Software (U -0.98%) was seen as a key architect of that future. The stock soared past $200 per share because management said it expected to grow revenue at a compound annual growth rate of at least 30% for the foreseeable future. What Unity has in its favor In the first quarter of 2024, Unity's revenue d ...