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Unity Software Earnings Met Estimates. Why the Stock Is Cratering.
Unity Software stock was tumbling after the videogame development platform’s earnings met analyst expectations but its sales and outlook fell short. Unity reported a loss of eight cents a share, meeting analyst expectations, on sales of $320.1 million, which missed forecasts for $321.49 million. Unity said its second-quarter sales would come in between $290 and $295 million, below estimates for $360.97 million, while lowering its full-year revenue guidance to a range of $1.35 billion and $1.425 billion, down from $1.485 billion to $1.50 billion.
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