| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
AppLovin Corp (NASDAQ:APP) reported third-quarter financial results after the market close on Wednesday. Here’s what you need to know from the print.
Q3 Highlights: AppLovin reported third-quarter revenue of $1.41 billion, missing analyst estimates of $1.34 billion, according to Benzinga Pro. The advertising technology company reported third-quarter earnings of $2.45 per share, beating analyst estimates of $2.41 per share.
Total revenue was up 68% on a year-over-year basis. Cash flow from operations and free cash flow both came in at $1.05 billion in the quarter.
AppLovin repurchased $571 million of its common stock during the quarter and ended the period with approximately $1.67 billion in cash and cash equivalents.
The company’s board also increased its authorized share buyback program by an incremental $3.2 billion, bringing the total authorization up to $3.3 billion as of the end of October.
What’s Next: AppLovin expects fourth-quarter revenue to be in the range of $1.57 billion to $1.60 billion versus estimates of $1.55 billion. The company anticipates fourth-quarter adjusted EBITDA of $1.29 billion to $1.32 billion.
AppLovin executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
APP Price Action: Applovin shares were up 4.69% in after-hours on Wednesday, trading at $646 at the time of publication, according to Benzinga Pro.
Read Next:
Image: Shutterstock.com
Posted In: APP
