Applovin Shares Fell 17.77% in Premarket Trading
Tiger Newspress2022-02-17
AppLovin shares fell 17.77% in premarket trading.
The company said it expects full-year revenue between $3.55 billion and $3.85 billion, with $2.2 billion to $2.35 billion of that coming from apps, and $1.35 billion to $1.5 billion coming from software platform revenue.
Analysts surveyed by FactSet had forecast revenue of $3.83 billion for 2022, with a different breakout. FactSet analysts forecast $2.02 billion in business revenue and $1.85 billion in consumer revenue, with $250 million from MoPub.
AppLovin reported fourth-quarter net income of $31.1 million, or 8 cents a share, versus a loss of $18.8 million, or 9 cents a share, in the year-ago period. The company did not list adjusted earnings-per-share figures.
Revenue rose to $793.5 million from $509.8 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast earnings of 11 cents a share on revenue of $780.4 million.
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