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Investing.com -- Unity Software saw its shares soar more than 8% in premarket trading on Wednesday after the video game software development company reported better-than-expected third-quarter results and released upbeat revenue guidance.
The company posted earnings per share (EPS) of $0.20, significantly better than the consensus expectations for a loss of 23 cents.
Revenue rose to $471 million from $447 million a year earlier, topping the $453 million consensus estimate.
Create Solutions revenue reached $152 million, up from $147 million in the same period last year, while Grow Solutions revenue increased to $318 million from $299 million.
Adjusted EBITDA came in at $109 million, representing a margin of 23%.
"Third-quarter results once again meaningfully exceeded expectations on both revenue and Adjusted EBITDA, powered by Unity Vector AI, as well as continued strength in Create,” Unity said in a statement.
For the fourth quarter, Unity expects revenue between $480 million and $490 million, ahead of the $475 million consensus projection.
The company anticipates mid-single-digit sequential growth in the Grow segment and high-single-digit year-over-year growth in Create, excluding the impact of non-strategic revenue.