"Unity Stock Plummets 18% Despite Beating Q4 Sales Targets"
Unity (NYSE:U) reported Q4 FY2023 revenue of $609.3 million, beating expectations, but its stock dropped 15.7% as its next quarter's revenue guidance of $417.5 million fell 30.8% below analysts' estimates. The company made a GAAP loss of $0.66 per share and announced a new strategy to focus on its core business and right-size its cost structure after laying off 25% of its workforce. Despite the tough quarter, investors are urged to consider Unity's valuation and business qualities before making investment decisions.