AppLovin Corp (NASDAQ:APP) reported financial results for the first quarter after the closing bell on Wednesday. Here’s a rundown of the report.
- AppLovin stock is trending. Where are APP shares going?
AppLovin Q1 Earnings Highlights
AppLovin posted first-quarter revenue of $1.84 billion, beating analyst estimates of $1.77 billion, according to Benzinga Pro. The advertising technology company reported earnings of $3.56 per share for the quarter, beating analyst estimates of $3.38 per share.
Total revenue was up 59% on a year-over-year basis. Cash flow from operations and free cash flow both came in at $1.30 billion in the quarter.
AppLovin repurchased $1 billion of its common stock during the quarter and ended the period with approximately $2.76 billion in cash and cash equivalents.
AppLovin expects second-quarter revenue to be in the range of approximately $1.92 billion to $1.95 billion, versus estimates of $1.89 billion. The company anticipates second-quarter adjusted EBITDA of approximately $1.62 billion to $1.65 billion.
Executives from AppLovin will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
APP Stock Rises In After-Hours Trading
APP Price Action: Applovin shares were up 2.28% in after-hours, trading at $479.64 at the time of publication on Wednesday, according to Benzinga Pro.
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