Bargain hunters who bet on gaming platform Unity Software (U) to report a turnaround will express frustration today. Unity posted a 32-cent per share loss on revenue of $449.26 million. This is down by 15.8%.
Investors should watch Take-Two Interactive (TTWO) today instead. The firm lost $1.52 a share as revenue grew by 4.7% Y/Y to $1.34 billion. The firm posted $1.22 billion in net bookings. For the year, it expects bookings of $5.55 billion to $5.65 billion.
After losing around 9% yesterday, Warner Bros Discovery may find support at $7.00. Its peer, Paramount (PARA), posted revenue falling by 11%. The firm took a $6 billion impairment charge.
WBD stock fell after it took a $9.1 billion impairment charge. It lost $4.07 a share after revenue fell by 6.3% Y/Y to $9.71 billion.
Look out for Under Armour in the retail sector adding to its 19% gain on Thursday. The company reported inventory falling by 15% to $1.1 billion. It expects revenue to fall in the low double-digit percentage for the year. However, the gross margin will increase by 75 to 100 basis points. Its reduction in promotional and discounting activities in its direct-to-consumer business will lower costs.
