05:54 PM EDT, 05/09/2024 (MT Newswires) -- Unity Software ( U ) late Thursday reported a Q1 net loss of $0.75 per diluted share, compared with a $0.67 loss a year earlier.

Analysts polled by Capital IQ expected a loss of $0.67.

Revenue for the quarter ended March 31 was $460.4 million, down from $500.4 million a year earlier.

Analysts expected $433.5 million.

For Q2, the company is projecting strategic portfolio revenue of $420 million to $425 million, which excludes revenue from its non-strategic portfolio. For 2024, it is expecting strategic portfolio revenue of $1.76 billion to $1.80 billion.

Unity shares were down 4.4% in after-hours trading.

Price: 23.10, Change: -1.06, Percent Change: -4.39