APP - AppLovin Stock Is Ripping Higher: What's Going On? | Benzinga
Applovin Corp (NASDAQ:APP) shares are moving higher Thursday after the company reported first-quarter financial results that exceeded analyst estimates. Here’s what you need to know.
What Happened: AppLovin reported first-quarter revenue of $1.058 billion, which was up 48% year-over-year and came in ahead of estimates of $974.361 million, according to Benzinga Pro. The company turned in quarterly earnings of 67 cents per share, beating estimates of 55 cents per share.
Apps segment revenue was up 5% year-over-year, benefitting from the improved performance of AXON since its launch last year. Adjusted EBITDA came in at $549 million, up ...