Unity's revenue up 57.2% for 2023
pcgamesinsider.bizEngine giant Unity has reported a 57.2 increase in revenue for 2023.
That's according to the firm's financial report for the 12 months ending December 31st, 2023, in which it reported revenue of $2.2 billion. The firm has apparently made a $826.3 million net loss for the year, a ten per cent improvement on 2022's $919.5 million.
Unity has also provided an update on the state of the company following its ongoing restructuring and reset. 25 per cent of its staff have been laid off, while the firm has cut office space and other costs. As a result, Unity reckons it'll be saving $250 million a year in non-GAAP operating expenses.
"Phase one includes right sizing our cost structure which is intended to enable us to grow from a healthy financial position," interim CEO James M Whitehurst wrote.
"We expect to mostly complete phase one at the end of the first quarter. The second phase of the reset is about reigniting revenue growth. We expect revenue growth to accelerate in the second half of 2024 and to maintain attractive levels of revenue growth thereafter."
The company's shareholders aren't that impressed with its results, it would seem. Unity's share price dropped around 15 per cent in after hours trading and in pre-market are still 14 per cent below yesterday's opening price.
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