AppLovin Stock Surges on Strong Q2 Earnings Beat
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BTCCSquare news:
AppLovin shares soared 14.4% after reporting Q2 revenue of $1.26 billion, a 77% jump year-over-year. The ad-tech firm outperformed analyst estimates of $1.22 billion, driven by a 70% increase in revenue per installation and 8% growth in installations.
The company's adjusted EBITDA nearly doubled to $1.02 billion, while GAAP EPS surged from $0.89 to $2.39. AppLovin's sale of its mobile-game developer Apps for $400 million plus equity positions the company to focus on its high-margin advertising business.
Guidance remains bullish with Q3 revenue projected at $1.32-$1.34 billion, representing 59% growth at midpoint. Adjusted EBITDA margins are expected to reach 81%, underscoring the company's operational efficiency.
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