AppLovin shares surged over 17% in after-hours trading on Wednesday, according to Benzinga. The rally followed the company’s first-quarter report, which showed revenue of $1.48 billion and earnings of $1.67 per share, both above analyst estimates. Advertising revenue jumped 71% year-over-year, offsetting a 14% drop in Apps revenue. For the current quarter, AppLovin expects advertising revenue of $1.19 to $1.21 billion and adjusted EBITDA between $970 million and $990 million. Shares rebounded 17.32% in after-hours trading Wednesday after falling earlier in the day following a short report from Muddy Waters Research.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Apple oven shares surged over 70% in after-hours trading on Wednesday, according to Benzinga.
00:07The rally filed the company's first quarter report, which showed revenue of $1.48 billion
00:10and earnings of $1.67 per share, both above analyst estimates. Advertising revenue jumped
00:1571% year-over-year, offsetting a 14% drop in apps revenue. For the current quarter,
00:20Apple oven expects advertising revenue of $1.19 to $1.21 billion and adjusted EBITDA between
00:26$970 million and $990 million. Shares rebounded 17.32% in after-hours trading Wednesday after
00:33falling earlier in the day, following a short report from Muddy Waters Research.
00:36For all things money, visit Benzinga.com slash GSTV.