Unity Reports Record Quarter with $533 Million in Revenue
Unity, the popular game development platform, has announced its financial results for the latest quarter, exceeding expectations and achieving a record-breaking revenue of $533 million. This represents an impressive 80% year-on-year increase.
The company’s adjusted EBITDA also saw significant growth, reaching $99 million compared to $32 million in the previous quarter. This positive performance reflects a steady increase from the -$31 million reported in the same period last year, indicating a remarkable turnaround.
Unity attributes its success to surpassing the revenue growth of its competitors in the market. The company expects this trend to continue throughout the year, positioning itself for further growth and profitability.
Achievements in Create Solutions
Unity’s Create Solutions division reported $193 million in revenue for the second quarter, marking a 17% year-on-year increase. This growth was primarily driven by the company’s core subscription business, which saw a 22% year-on-year increase outside of China. Unity’s continuous innovation and enhancements to its product lines contributed to this impressive performance.
Furthermore, Unity’s Grow Solutions division had a strong quarter, attracting industry leaders like Supercell and Sega to join its LevelPlay service. Additionally, Supersonic, Unity’s subsidiary publisher, expanded its game portfolio to a total of ninety games with the introduction of five new titles.
Positive Outlook and Forecast
Looking ahead, Unity anticipates generating $540 million to $550 million in revenue for the third quarter of 2023, which would represent a substantial 67% to 70% increase compared to the previous year. The company predicts consistent growth in the game ads market throughout the year, with no significant seasonal fluctuations. However, Unity remains cautious about the Chinese gaming industry, expecting a continuation of a soft market.
It is worth mentioning that Unity was recognized as one of the top 50 mobile game makers in 2022. The updated list for 2023 will be revealed during the Top 50 Mobile Game Makers event at Gamescom on August 22.