Unity Earnings: Vector Launches Early
Here's our initial take on Unity Software's (NYSE: U) financial report.Unity revenue declined by 5% year over year in the first quarter, but with the video game engine developer's "portfolio reset" nearly in the rearview mirror, a return to growth is inching closer.Driving any growth will be Unity's subscription business within the Create Solutions segment. The company dropped a plan to charge developers onerous fees based on the number of game installs last year and instead boosted its subscription pricing. Unity noted that while professional services revenue and consumption services revenue slumped in the first quarter, subscription revenue enjoyed strong growth.Continue reading
Here's our initial take on Unity Software's (NYSE: U) financial report.
Unity revenue declined by 5% year over year in the first quarter, but with the video game engine developer's "portfolio reset" nearly in the rearview mirror, a return to growth is inching closer.
Driving any growth will be Unity's subscription business within the Create Solutions segment. The company dropped a plan to charge developers onerous fees based on the number of game installs last year and instead boosted its subscription pricing. Unity noted that while professional services revenue and consumption services revenue slumped in the first quarter, subscription revenue enjoyed strong growth.
