"The company just posted EPS of $2.28, beating by 30 cents. Revenue of $1.26 billion, up 77.2% year over year, beat by $40 million."
"Continued strength in gaming advertising is the key driver behind another strong quarter, citing improved technology, increased demand, and supply-side expansion."
"We are confident we can sustain 20% to 30% year-over-year growth driven by just gaming, with excitement about expanding outside its core market."
"During the quarter, revenue increased by a very healthy 77% from last year to approximately $1.260 billion, while adjusted EBITDA nearly doubled to an impressive $1.020 billion."
AppLovin reported an earnings per share (EPS) of $2.28, surpassing expectations by 30 cents. The company's revenue reached $1.26 billion, reflecting a significant increase of 77.2% year-over-year and exceeding forecasts by $40 million. The CEO attributed this strong performance to continued strength in gaming advertising, improved technology, and increased demand. Future projections indicate a sustained growth of 20% to 30% year-over-year driven mainly by gaming. Following this performance, Benchmark analysts confirmed a buy rating with a target price of $525.
Read at 24/7 Wall St.
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