Unity Software Stock Soars as 2022 Revenue Forecast Tops Estimates

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Unity Software

stock traded sharply higher Friday after the fourth-quarter adjusted loss at the videogame developer tools maker was narrower than Wall Street expected and the company issued a 2022 sales outlook that was higher than estimates.

The stock gained 16.8% to $108.07 on Friday. It has fallen 24.4% in 2022 and has declined 16% over the past one year.

Unity Software (ticker: U) posted an adjusted loss in the period of 5 cents a share, compared with a year-earlier loss of 10 cents. Revenue in the fourth quarter rose 43% to $315.9 million from $220.3 million