Unity Software (NYSE: U) is best known for gaming. It provides tools and software to assist developers in game creation and marketing. In 2019, over 50% of the top 1,000 mobile games were created using Unity. Unity has players in 195 countries, so it's literally a global company. Unity powers billon-dollar mobile games like Pokémon Go and Angry Birds.
But augmented reality (AR) and virtual reality (VR) are why I personally own the stock. Unity is actually quite diverse in terms of its offerings and industry segments, and it's a leader in AR and VR. Here are some other areas Unity works in outside of gaming:
- Automotive, transportation, and manufacturing
- Film, animation, and cinematics
- Architecture, engineering, and construction
- Government and aerospace
- Gambling
Unity partners with companies like Lockheed Martin (NYSE: LMT) to build products virtually with real-time 3D. Lockheed Martin saves millions of dollars leveraging Unity to minimize physical product prototyping and testing since that way, problems can be resolved sooner in the development phase. In fact, the more you dig into Unity's business, the more real-world business use cases you will discover.
In today's video, I break down Unity's recent earnings report, then dive into its business and sectors. Unity's growth is accelerating outside of gaming, and that is the key to its future growth. Please watch the below video for more information and my opinions on the stock.
*Stock prices used in the below video were during the trading day of August 17, 2021. The video was published on August 17, 2021.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Eric Cuka owns shares of Amazon, Lockheed Martin, Palantir Technologies Inc., and Unity Software Inc. and has the following options: long August 2021 $40 calls on Palantir Technologies Inc. The Motley Fool owns shares of and recommends Amazon, Palantir Technologies Inc., and Unity Software Inc. The Motley Fool recommends Lockheed Martin and recommends the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool has a disclosure policy. Eric is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
