5 Stocks that Released Solid Quarterly Earnings

3. Unity Software Inc. (NYSE: U)

Number of Hedge Fund Holders: 39

Unity Software Inc. (NYSE: U), founded in 2004, operates a leading videogame development platform. The company offers a suite of advanced software tools, helping developers create video games. The gaming engine company recently announced better-than-expected financial results for the second quarter, mainly driven by the addition of new customers.

Shares of Unity Software jumped more than 14 percent after reporting a loss of 2 cents per share, narrower than a loss of 9 cents per share in the year-ago quarter. Revenue for the quarter climbed 48 percent on a year-over-year basis to $273.6 million. Analysts were looking for a loss of 11 cents per share and revenue of $242.3 million for the quarter.

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Unity Software also raised its sales outlook for fiscal 2021. The company expects revenue in the range of $1.05 billion to $1.06 billion for the full year, compared to its earlier guidance between $1 billion and $1.02 billion. The updated forecast is better than analysts’ average estimate of $1.01 billion.