"Unity's Stock Plummets on Disappointing Earnings and Forecast"

Unity Software Inc. shares plummeted by over 17% in late trading after the company reported lower-than-expected results and forecasts, including a fiscal first-quarter revenue forecast of $415 million to $420 million, well below the FactSet consensus of $534 million, and a full-year revenue forecast of $1.7 billion to $1.8 billion, compared to analysts' expectations of $2.3 billion. The company also reported a fiscal fourth-quarter net loss of $254 million, or 66 cents a share, and outlined a two-phase company reset to reignite revenue growth.