More info on textures and texture sizes Unity has a few different texture types that you can set, and depending on what the setting is, as well as what is contained in the texture you are applying it to will affect what it turns into by the different settings.
TrueColor - This means that Unity is not doing anything to the color/pixel values in your texture, so they are "true". True color textures can be any width or height. If your texture has any alpha in it, this means it will create a 32 bit texture. A 32 bit texture's size is going to be widthheight4. It has a full 8 bit alpha for each pixel. If your texture doesn't have any alpha in it, it will create a 24 bit texture. A 24 bit texture's size is going to be widthheight3. It will have no alpha, and adding even a single pixel of alpha will make it convert to 32 bit, so it will become 33% bigger.
16 bit - A 16 bit texture is going to be either 2/3 the size or 1/2 the size of a true color texture, depending on whether the 32 bit texture has alpha or not. Its total size will be widthheight2. 16 bit textures can also be any size, like true color. They are smaller than true color, but at the loss of some color resolution. You will get mixed results on this setting, but they do have the advantage of supporting alpha without changing the size, and are not compressed.
Compressed - A compressed texture is significantly smaller than either a True Color or 16 bit texture. The compression will look better on some textures than others, and its beyond the scope of this explanation to give you hints on how to improve the visual quality. A compressed texture must be a power of two, and if it is not, Unity will automatically scale it up to the next largest power of two. A compressed texture is generally significantly faster to render and uses a much smaller amount of memory, and can carry an alpha channel. It tends to look best on things that are "noisy", so real pictures, or things that are busy. It tends to look worse on things that are flat colors or have sharp edges that are important. So fonts, text, and UI elements will probably have more obvious signs of compression than a texture of a tree, for example.