Unity Software shares plummeted 17% in extended trading on Monday after the gaming software company issued weaker-than-expected guidance for the current quarter.
The company said going forward, it would only provide revenue guidance for its "strategic portfolio," which includes its engine, cloud and monetization business units.
The company said first-quarter guidance for its strategic portfolio would come in between $415 million and $420 million.
"We are right sizing our cost structure to grow from a healthy financial position," Unity said in a shareholder letter.
WATCH: Unity Software cutting 25% of workforce
Persons:
Unity, John Riccitiello, James Whitehurst, Riccitiello's
Organizations:
Unity Software, Luna, Red Hat, Unity, Software