Unity Technologies Stock Price Hits All-Time High As Its Stock Climbs, Stock Goes Higher With Tech Background

By Mark M. PerrySeptember 12, 2018 at 10:42:05Unity Technologies, the maker of the popular Unity games engine, posted a 10 percent rise in quarterly revenue for the fourth quarter of 2018, to $9.5 million.

Unity Technologies Chief Executive Officer Chris Wilson said the company’s quarterly profit of $965,000 was a record.

In addition to Unity Technologies, Wilson said a number of other companies are joining the Unity family, including Adobe, IBM, Intel, Oracle, and Facebook.

In a statement, Unity Technologies said it plans to release “a number of high-end products and services in the coming years that will leverage Unity’s deep expertise in delivering high-performance virtual and augmented reality, motion and audio technologies to the web, mobile, gaming and other connected devices.”

Wilson said the growth in Unity Technologies’ revenue reflects the increased usage of its products and the increased demand from developers.

The company also said it expects revenue growth for the current quarter to be around $8 million, up from $7 million in the prior quarter.

The stock jumped more than 5 percent at $12.04, after the company posted earnings that beat Wall Street forecasts.