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Why Unity Software Stock Skyrocketed This Week

TheMotleyFool

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Why Unity Software Stock Skyrocketed This Week: https://g.foolcdn.com/editorial/images/732256/investor-plan-growth-and-increase-of-positive-performance-indicators.jpg

Week to date, shares of Unity Software (NYSE: U) were up 23% through Thursday's closing price, according to data provided by S&P Global Market Intelligence.

The provider of real-time 3D software for gaming and other markets surprised investors with its first-quarter earnings report. Unity's revenue soared 56% year over year, boosted by the recent acquisition of ironSource, an Israel-based company that helps mobile developers grow and monetize their apps.

However, even after accounting for the additional ironSource revenue, Unity still beat the consensus analyst estimate of $481 million by reporting $500 million in total revenue for the quarter.

Source Fool.com

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