Is Unity Software Stock a Buy Now?
Unity Software (NYSE: U) posted its second-quarter earnings report on Aug. 2. The video game engine developer's revenue rose 11% year over year on a pro forma basis (to account for its merger with ironSource) to $533 million, which exceeded analysts' expectations by $16 million. It narrowed its net loss from $204 million to $193 million, or $0.51 per share, which also topped estimates by $0.11.
Unity's headline numbers seemed solid, but should investors still buy the stock after its year-to-date rally of more than 40%? Let's look back at Unity's struggles in 2022, the catalysts for its comeback in 2023, and where its stock might head in 2024.
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Source Fool.com
