AppLovin Posts Higher Profit, Revenue Growth in 1Q

By Elias Schisgall

AppLovin reported profit more than doubled as revenue jumped in the first quarter

The advertising company on Wednesday logged a profit of $1.21 billion, or $3.56 a share, compared with $576.4 million, or $1.67 a share, a year earlier.

Revenue rose 59% to $1.84 billion.

Analysts polled by FactSet were expecting a profit of $3.44 a share on revenue of $1.77 billion. The company in February guided for revenue between $1.75 billion and $1.78 billion.

For the current second quarter, the company is expecting revenue between $1.92 billion and $1.95 billion. Analysts are expecting $1.89 billion.

Shares fell 2.3% to $458 in after hours trading. The stock closed down 1.9% at $468.83 on Wednesday, down 30% this year.

Write to Elias Schisgall at [e-mail]

(END) Dow Jones Newswires

05-06-26 1655ET