Is It Too Late to Buy Unity Software Stock?
Unity Software's (NYSE: U) stock price soared to an all-time high after the software development company posted its third-quarter earnings on Nov. 10.
Its revenue rose 43% year over year to $286.3 million, beating estimates by nearly $20 million. Its adjusted net loss widened from $13 million to $14.8 million, or $0.06 per share, which also topped expectations by a penny per share.
Unity now expects its revenue to rise 40% for the full year, compared to its previous guidance for 35% to 37% growth. It also announced its plans to buy Weta Digital, the visual effects studio which was co-founded by The Lord of the Rings director Peter Jackson, for $1.63 billion in cash and stock. It expects the deal to close in the fourth quarter.
Source Fool.com
