U - What on the deck for Unity Software's Q2 earnings?
2023-08-01 10:40:20 ET
Unity Software ( NYSE: U ) is scheduled to announce Q2 earnings results on Wednesday, August 2nd, after market close.
The consensus EPS Estimate is $0.08 (+33.3% Y/Y) and the consensus Revenue Estimate is $517.35M (+183.0% Y/Y).
During the last quarter, the company beat both top and bottom line estimates with a 56% surge in revenue to ~$500M. During Q1, company guided Q2 revenue between $510M to $520M.
On a YTD basis, the gaming software firm has witnessed a 64% surge in price, with increasing demand for its software solutions from content creators like game developers, architects, automotive designers and filmmakers.
Over the last 2 years, U has beaten EPS estimates 100% of the time and has beaten revenue estimates 50% of the time.
Over the last 3 months, EPS estimates have seen 10 upward revisions and 1 downward. Revenue estimates have seen 14 upward revisions and 2 downward.
Sell side analyst give the stock a Buy rating with an average target price expected to be $40.95; while a SA Quant rating of Hold given to the stock that gives highest factor rating to momentum.
In recent news, Wells Fargo started coverage with an outperform rating as the company unveiled an AI marketplace. Also, expecting more cost synergies after the ironSource deal closed and potentially have an adjusted EBITDA of $250M by Q4 of fiscal 2024.
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What on the deck for Unity Software's Q2 earnings?