Game engine maker Unity reported earnings and revenues that beat Wall Street’s expectations for the fourth quarter ended December 31.
The company’s stock rose 16% in after-hours trading to $106.30 a share, up 14%. The company’s closing market valuation was $27 billion.
The San Francisco-based company also forecast better-than-expected earnings for the year ahead.
In Q4, Unity lost an adjusted 5 cents a share on sales of $315.9 million. Analysts had expected Unity to lose 7 cents a share on sales of $295.5 million. In the year-earlier period, it lost 10 cents a share on sales of $220.3 million.
For the current quarter, Unity forecast sales of $317.5 million, up 35% from the same period last year and matching Wall Street’s target. That’s based on the midpoint of its outlook.
“We closed out the quarter with great momentum,” said John Riccitiello, CEO of Unity, in a call with analysts.
John Riccitiello, CEO of Unity Technologies, has nearly 7 million developers for the Unity 3D engine.
John Riccitiello, CEO of Unity Technologies.
For the full-year 2022, Unity expects revenue of $1.5 billion, up 35% from a year ago. Analysts expected $1.43 billion.
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