$U Earnings Summary
Q1 EPS ($0.08) vs est. ($0.08)
Revenue $320.1M vs est. $320.8M

Guidance:
Q2 2022 revenue $290-295M vs est. $360M
FY2022 revenue $1.35-1.425B vs est. $1.5B

Getting smashed after hours due to lowered guidance and missed revenue. Watching this name for an entry.

No position.
ThomasFJE's avatar
Any good reason for lower guidance?
Preston | Investor Insight's avatar
@smh I am not finding any good reason. I am wondering if its just due to the higher interest rate environment and the return to work environment.

I have not had time to look into it just yet.
Steve Matt's avatar
@smh "Unity is providing the following guidance for the second quarter and lowering guidance for the full year ending December 31, 2022 due to challenges with monetization products that we expect to impact 2022."
Preston | Investor Insight's avatar
@interrobangbros Thanks Steve for the follow up. I have not had time to listen to the earnings call or anything yet.
Investor from Nepal 🇳🇵's avatar
@investorinsight I will tag you to the reason for lower guidance.
Preston | Investor Insight's avatar
From the call: During the three months ended March 31, 2022,, we experienced challenges with our Operate products that negatively impacted revenue in February and March. We expect that to persist through the third quarter and have minimal impact in the 4th. These challenges reduced the efficacy of such products, and we see these as temporary and not structural with no carry over impacts in 2023.
Steve Matt's avatar
They beat revenue. Management guided for $317.5M at the midpoint ($320M at the top end) and reported $320,126,000.
Preston | Investor Insight's avatar
@interrobangbros Where did you pull your data? I pulled mine from TDA and it gave me the numbers above.
Steve Matt's avatar
@investorinsight From the previous quarter press release.

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