BUZZ - Unity shares rise on better-than-expected Q3 revenue

November 5 - ** Video game software developer Unity (U.N) saw its stock price surge 19% in pre-market trading to $50.55

** According to data compiled by London Stock Exchange Group (LSEG), (link) third-quarter revenue was $622 million, exceeding analysts’ expectations of $567.4 million

** “The third-quarter results are our strongest ever, Vector grew 126% year-on-year, and this is also our first quarter since IPO to achieve profitability under US GAAP,” said Unity CEO Matt Bromberg

** Vector is the company’s AI-powered advertising engine used to match players with games

** Adjusted earnings per share for the third quarter were $0.44, up from $0.20 in the same period last year

** Out of 28 brokerages, 24 assigned the stock a “Buy” or higher rating, and 4 rated it “Hold”; the median price target is $50—data compiled by LSEG

** As of the close of the previous trading day, the stock was down 3.9% so far this year

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