AppLovin's Strong Q4 Earnings and Revenue Beat
AppLovin reported better-than-expected earnings and revenue for the fourth quarter. The AI-powered advertising technology business posted earnings of $1.73 per share, surpassing Wall Street forecasts of $1.25 per share. The company's revenue for the quarter was $1.37 billion, exceeding the consensus call of $1.26 billion. AppLovin also provided strong guidance for the first quarter, expecting revenue between $1.36 billion and $1.39 billion. The stock price of AppLovin surged 16% following the announcement. The company's CEO highlighted the potential for further value creation through the improvement of its advertising AI models. Overall, the event has a positive sentiment.