AppLovin reports strong quarter, new guidance and a larger buyback
· 2 sources
AppLovin posted sharply higher sales and net income, issued fresh revenue guidance and expanded its buyback, according to TIKR.com and Simply Wall St.
What happened
AppLovin (APP) is back in focus after reporting results for its latest quarter, according to Simply Wall St. The company showed sharply higher sales and net income compared with a year earlier.
Simply Wall St reports that AppLovin also issued fresh revenue guidance for the fourth quarter and expanded its share buyback program. The outlet cites a 7 day share price return of 61.1% and a 30 day return of 42.8% following the results, while the year to date return is still down 36.0%.
TIKR.com describes the quarter as huge and says the CEO warned that gains will not arrive on a perfectly regular quarterly schedule.
Context
Companies often pair earnings releases with forward guidance and capital return plans such as share buybacks, which investors follow alongside the reported results.
Why it matters
The results, guidance and buyback, together with the CEO's caution about uneven quarterly progress, are shaping how the market is assessing AppLovin.
Stocks in this story
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
$265.37Fair range: $195.60 to $298.77The price ($403.50) is 52.1% above that figure.
Chance of a rise in 1 month
44%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $321.93 and $465.21; 9 in 10, between $232.29 and $644.75.
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