AppLovin Stock Soars As Software Firm Crushes Q3 Targets

Date:

App marketing platform AppLovin (APP) late Wednesday crushed Wall Street’s estimates for the third quarter. AppLovin stock surged to record heights in extended trading.

The Palo Alto, Calif.-based company earned $1.25 a share on sales of $1.2 billion in the September quarter. Analysts polled by FactSet had expected earnings of 92 cents a share on sales of $1.13 billion. In the year-earlier period, AppLovin earned 30 cents a share on sales of $864 million.

In after-hours trading on the stock market today, AppLovin stock rocketed more than 28% to 216.41. During the regular session Wednesday, AppLovin stock advanced 2% to close at 168.55. Earlier in the day, it reached a regular-session record high of 176.99.

On Aug. 22, AppLovin stock hit a buy point of 91.91 out of a six-week consolidation pattern, according to IBD MarketSurge charts.

Earnings report details to follow.

AppLovin’s software platform enables app developers to market, monetize and analyze their apps. The company also makes mobile games such as “Wordscapes,” “Matchington Mansion” and “Game of War.”

AppLovin stock is on the IBD Tech Leaders list.

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

YOU MAY ALSO LIKE:

AppLovin Stock Gets Favorable Comparison To Google

Is Netflix Stock A Buy After Beat-And-Raise Earnings Report?

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Find Winning Stocks With MarketSurge Pattern Recognition & Custom Screens

Join IBD Live For Stock Ideas Each Morning Before The Open

Share post:

Popular

More like this
Related

Who is on track to qualify in the Champions League?

Liverpool lead the way and are well on track...

Bosa hasn’t heard from NFL on MAGA hat yet, admits he knows fine likely

Bosa hasn't heard from NFL on MAGA hat yet,...

LIVE BLOG: Updates From Indiana Basketball’s Season Opener Against SIU-Edwardsville

BLOOMINGTON, Ind. – After exhibition wins over Tennessee and...