No Strength in Unity
Live Blog Update #3 Published
In (even more) earnings news, Unity Software (NYSE: U | FOX Price Prediction), which makes software for 3-D visualization, reported Q2 earnings of $0.18 per share, a nickel better than promised. Revenue for the quarter was $440.9 million, also ahead of expectations, and guidance was pretty close to analyst forecasts for $445.1 million in Q3.
Despite all this good news, Unity stock sank more than 10%. The Voo, on the other hand, is now up 0.7%.
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Shopify (Nasdaq: SHOP) reported Q2 revenue of $2.7 billion this morning, ahead of analysts’ forecast $2.55 billion. The company did not break out EPS numbers, but noted that its sales grew 31%, free cash flow expanded 27%, and operating profits rose 21% year over year.
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Earnings news continues to roll in. Next up: Commercial kitchen equipment giant Middleby (Nasdaq: MIDD) earned $2.35 in Q2, six cents better than expected. Revenue came in a bit short at $977.9 million however, and guidance looks weak: $2.04 to $2.19 in Q3 earnings, and revenue ranging from $950 to 975 million, versus a consensus for $971.4 million.
Middleby stock is down 4%, while the Vanguard S&P 500 ETF is now up 0.4%.
Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
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