Applovin shares pop on earnings beat, mobile gaming business sale

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Applovin shares pop on earnings beat, mobile gaming business *****

Thomas Fuller | SOPA Images | Lightrocket | Getty Images

Applovin shares soared as high as 15% in extended trading after the company reported earnings and revenue that beat expectations and announced the ***** of its mobile gaming business.

Here’s how the company did compared to LSEG consensus estimates:

Earnings: $1.67 per share vs $1.45 per share expectedRevenue: $1.48 billion vs $1.38 billion expected

Applovin also agreed on Wednesday to sell its mobile gaming business to Tripledot Studios in a deal worth $400 million in cash considerations. The advertising tech company will also obtain  a roughly 20% ownership stake in Tripledot Studios, which makes mobile games like Sudoko Friends, Puzzletime and Solitaire Classic.”

The deal is expected to close in the second quarter of 2025.

Applovin said second-quarter sales should come in the range of $1.2 billion to $1.22 billion, trailing analysts expectations of $1.38 billion.

The company reported first-quarter net income of $576 million, or $1.67 per share, up from $234 million, or 67 cents per share, in the same quarter of 2024.

Applovin’s total costs and expenses for the first quarter came in at $820.55 million, representing a 14% increase from the previous year during the same quarter.

This is breaking news. Please refresh for updates.

WATCH: Activist Robby Starbuck on why he’s suing Meta for defamation

This is the hidden content, please

• Sign In
• or
• Sign Up

#Applovin #shares #pop #earnings #beat #mobile #gaming #business #*****

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/