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Unity (U) Q3 2023 earnings results beat EPS expectations on in-line revenue

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Unity (U) Q3 2023 earnings results beat EPS expectations on in-line revenue

Unity was able to post a beat on earnings-per-share after adjustments in its Q3 2023 earnings results.

TJ Denzer

TJ Denzer

November 9, 2023 2:11 PMImage via Barrons1

As we continue through the season of companies reporting their quarterly earnings results, Unity was one of the most recent on deck to share its Q3 2023 numbers. The company seemed to post up revenue in line with expectations for the quarter, and its earnings-per-share (EPS) even managed to beat expectations, marking a narrowly successful quarter against expectations for the company.

Unity posted its Q3 2023 earnings in a press release on its investor relations website this week. For revenue, Unity put up a total revenue for the quarter of $544 million USD. That was pretty much right in line with Wall Street estimates. Meanwhile the company’s EPS came in at $0.33 per share after adjustments, beating out both the Earnings Whisper number and Wall Street expectations that called for the company to land at $0.17 per share.

Unity has had quite a rough 2023. The company has been beating expectations in earnings results all year, but some big decisions have soured audiences on the game engine. One of the biggest issues was a pricing change that looked to put severe runtime fees on developers. The reaction was so intense that the company was forced to apologize and adjust the policies, and CEO John Riccitiello resigned in the aftermath. All of these things made for a rough fall season for Unity.

Nonetheless, Unity continues to make money and beat out expectations on its earnings results for the time being. As we watch further companies post their earnings results on recent quarters, stay tuned for more financial reporting here at Shacknews.

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