Software and gaming company Unity Software Inc U reported second-quarter financial results and shared a company update after the market close Tuesday.
What Happened: Unity reported second-quarter revenue of $297 million, up 9% year-over-year. The total came in below a Street consensus estimate of $298.3 million, according to data from Benzinga Pro.
The company reported a loss of 18 cents per share in the second quarter, beating a consensus estimate of a loss of 21 cents per share.
“The second quarter of 2022 was consistent with our guidance with strong performance in Create Solutions,” Unity CEO John Riccitiello said. “We are encouraged by the progress we are making to get Operate Solutions back on stable footing.”
Create Solutions saw second quarter revenue of $120.9 million, up 66% year-over-year. Operate Solutions had second quarter revenue of $158.5 million, down 13% year-over-year. Strategic Partnerships and Other revenue was $17.7 million in the second quarter, down 2% year-over-year.
The company reported 1,085 customers of $100,000 or more on a trailing 12 months basis, compared to 888 in the second quarter of last year.
Related Link: AppLovin Submits A Bid To Acquire Unity: What Investors Should Know And 3 Stocks To Watch
What’s Next: Unity did not comment in its earnings release on a proposal from AppLovin APP to acquire the company, which was announced Tuesday morning.
The company said it is intent on its pending merger with IronSource IS. Unity sees the merger creating an end-to-end platform for creators to “create, publish, run, monetize, and grow live games and RT3D content seamlessly.”
The merger is expected to close in the fourth quarter of 2022.
Unity sees third-quarter revenue hitting a range of $315 million to $335, up 10% to 17% year-over-year.
Full year guidance calls for revenue of $1.3 billion to $1.35 billion compared to a Street estimate of $1.36 billion.
U Price Action: Unity shares are down 1.39% in after-hours trading Tuesday to $49.65.
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