Applovin Stock Swooshes Higher On AI-Driven Earnings Beat: The Details
Portfolio Pulse from Adam Eckert
Applovin Corp (NASDAQ:APP) reported Q2 earnings that significantly beat estimates, with revenue of $750.16 million and EPS of 22 cents, against estimates of $724.27 million and 7 cents respectively. The company attributes its strong results to the successful launch of its latest AI-based advertising engine. Applovin also provided a positive outlook for Q3, expecting revenue between $780 million and $800 million, and adjusted EBITDA between $340 million and $360 million.
August 09, 2023 | 8:34 pm
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Applovin's Q2 earnings beat estimates, driven by its AI-based advertising engine. The company also provided a positive outlook for Q3.
Applovin's Q2 earnings beat estimates, primarily due to the successful launch of its AI-based advertising engine. This positive news, along with a strong Q3 outlook, is likely to boost investor confidence and could lead to a short-term increase in the company's stock price.
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