- General
- November 14, 2020
- 4 minutes read
Unity Posts Strong Revenue Growth
John Riccitiello, Chief Executive Officer, Unity. Photo credit: TechCrunch,licensed under CC BY 2.0 After going public in September, gaming company Unity has…
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| John Riccitiello, Chief Executive Officer, Unity. Photo credit: TechCrunch,licensed under CC BY 2.0
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After going public in September, gaming company Unity has posted its first financial results as a public company, showing $200.8 million in revenue and $141.7 million in losses in the third quarter of this year. Revenue for the quarter grew 53% year-over-year while losses shot up more than 200% year-over-year. The majority of the loss spurred from a one-time charge due to stock compensation and the donation of 750,000 units of shares worth over $80 million to a charitable fund.
During the quarter, Unity powered some of the biggest gaming hits including Mediatonic’s Fall Guys which has sold over 10 million copies on the PC, and Genshin Impact, a free-to-play mobile game that saw over 10 million downloads on its first day of release.
During the quarter, Unity boosted the number of customers that each generate more than $100,000 in annual revenue to 739, compared to 553 in the same period last year.
Forecast
For the next quarter of this year which is the fourth and final quarter, Unity is forecasting revenue of between $200 million to $204 million. For the entire year, the gaming company forecasts revenue of between $752 million to $756 million.
