AppLovin Corporation

AppLovin Corporation (APP) topped quarterly earnings and sales estimates, issued an outlook that sailed past Wall Street expectations and upped its 澳洲幸运5开奖号码历史查询:stock buyback program, sending its shares sharply higher in pre-market trading Thursday morning.

The company, which enables app developers to market, monetize and analyze their apps, late Wednesday reported fourth-quarter 澳洲幸运5开奖号码历史查询:adjusted earnings of 49 cents per share on revenue of $953 million. Analysts had expected earnings of 35 cents a share on sales of $929 million.

AppLovin attributed the better-than-expected quarterly results to a strong holiday season, growth in the mobile app advertising market, and bidding enhancements to its platform. In particular, the company’s software platform segment performed strongly in the period, generating $576 million in revenue, representing year-over-year growth of 88% and sequential growth of 14%, driven by its AI-enhanced AppDiscovery user acquisition solution.

Looking at the first quarter, the company projects adjusted earnings to range between $475 million and $495 million, significantly above the 澳洲幸运5开奖号码历史查询:Street forecast of $440 million. Its top line guidance of $955 million to $975 also easily surpasses the consensus view, which analysts had pegged at $912 million.

AppLovin on Wednesday also announced an expansion of its stock buyback program by $1.25 billion. “We remain focused on delivering long-term shareholder value through a combination of share management and free 澳洲幸运5开奖号码历史查询:cash flow generation,” the company's fourth quarter 2023 shareholder letter said. In 2023, AppLovin repurchased 54.3 million shares of its Class A 澳洲幸运5开奖号码历史查询:common stock.

Since breaking out from a five-month channel in January, the APP share price has struggled to make meaningful gains above the pattern. However, trading volumes have increased in the lead-up to earnings, indicating 澳洲幸运5开奖号码历史查询:accumulation of the stock. If the price continues to trend high post earnings, keep an eye on the $76 level—an area on the chart where the stock may run into overhead 澳洲幸运5开奖号码历史查询:resistance from a 澳洲幸运5开奖号码历史查询:countertrend peak that formed in mid-February 2022.

AppLovin shares were up 23% at $57.80 about two-and-a-half hours💙 before the opening bell.

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