Unity Software stock jumps 10% on Q1 beat

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For the balance of 2023, the company expects revenue to grow faster than the markets in which it competes, with steady and meaningful continued progress on profitability.

For Q2/23, the company expects revenue in the range of $510-$520M, compared to the consensus of $497M. For the full year, the company expects revenue in the range of $2-$2.2 billion, compared to the consensus of $2.13B.

Last week, the company announced it will restructure specific teams and lay off about 8% of its workforce, or roughly 600 employee roles, to continue to position itself for profitable and long-term growth.

By Davit Kirakosyan