Unity shares drop 8% premarket as Q1 revenue guidance misses estimates

Investing.com -- Unity Software Inc (NYSE: U) shares fell 8% in before the opening bell as the company issued first-quarter revenue guidance below Wall Street expectations.

Unity for its first quarter forecast revenue between $405 million and $415 million, below analysts' estimate of $436.6 million. The company expects adjusted EBITDA in the range of $60 million to $65 million.

The company reported a fourth-quarter loss per share of $0.30, narrower than analysts’ estimates of $0.37. Revenue for the quarter reached $457 million, beating the consensus estimate of $432.91 million.

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