Unity Software Inc (NYSE:U) reported second-quarter financial results before the market open on Wednesday. Here’s a rundown of the report.
Q2 Earnings: Unity reported second-quarter revenue of $440.94 million, beating analyst estimates of $425.46 million, according to Benzinga Pro. The company reported second-quarter adjusted earnings of 18 cents per share, beating estimates for a loss of 27 cents per share.
Create solutions revenue totaled $154 million in the quarter, up from $151 million in the second quarter of 2024. Grow solutions revenue came in at $287 million, down from $298 million in the prior year’s quarter.
Unity generated $133 million in cash from operations and $127 million of free cash flow during the period. The company ended the quarter with $1.7 billion of cash, cash equivalents and restricted cash.
“Results once again exceeded expectations, substantially beating the high-end of our guidance for both revenue and Adjusted EBITDA. Our new AI platform, Unity Vector, is transforming our growth prospects, delivering 15% sequential growth in the Unity Ad Network during the second quarter,” said Matt Bromberg, president and CEO of Unity.
Outlook: Unity expects third-quarter revenue to be in the range of $440 million to $450 million versus estimates of $440.67 million.
Grow solutions revenue is expected to grow in the mid-single digit range sequentially in the third quarter. Third-quarter create solutions revenue is expected to decline slightly compared to the second quarter.
U Price Action: Unity shares were up 9.34% at $37.12 at the time of publication Wednesday, according to Benzinga Pro.
Read Next:
Photo: Shutterstock.
