Unity Software Up 14% As Quarterly Results, Outlook Better Than View

(RTTNews) - Shares of Unity Software Inc. (U) are up 14% Friday morning after the company reported more than 40% growth in revenue. The company's first quarter results as well as full-year outlook came in above estimates.

Unity's adjusted loss per share in the fourth quarter narrowed to $0.05 from $0.10 a year ago. The consensus estimate of analysts polled by Thomson Reuters was for $0.07 loss per share.

Revenue was $315.86 million, an increase of 43% from the fourth quarter of last year.

The company reported net loss of $161.65 million or $0.56 per share, wider than net loss of $83.5 million or $0.31 per share in the same quarter a year ago, impacted by higher expenses.

For the first quarter, Unity expects revenue to be in the range of $315 million - $320 million. The consensus estimate stands at $313.53 million.

For the full-year, revenue is expected between $1.485 billion and $1.505 billion. Analysts expect revenue of $1.42 billion for the period.

Unity stock is at $105.97 currently. It has traded in the range of $76- $210 in the past 52 weeks.