Why Unity Software Chugged 19.8% Higher in October
Shares of Unity Software (NYSE: U) chugged 19.8% higher in October, according to data from S&P Global Market Intelligence. The platform for building and monetizing real-time 3D (RT3D) content (digital worlds and games) made multiple product announcements last month and was helped by the recovery of the broad market.
Unity has two main parts to its business right now. The Creative Solutions segment helps video game and other software developers easily build and deploy software across different hardware platforms like consoles and smartphones. In order to get more developers using its engine, Unity needs to increase the value proposition of using its creative solutions to build RT3D.
The company made progress with this in October, releasing Unity Gaming Services. The service allows developers to get a comprehensive and editable view of their games across all platforms, hopefully saving time and money in the process. While not financially material to the business right now, new products like this show that Unity is working hard to improve the value proposition of outsourcing game development to its game engine.
Source Fool.com
