Why AppLovin Continued to Rally in August
Shares of AppLovin (NASDAQ: APP) rallied 22.5% in August, according to data from S&P Global Market Intelligence.
The artificial intelligence (AI)-powered mobile game advertising engine delivered another exceptional quarter when it reported second-quarter earnings on Aug. 6. Not only were results great, but management also laid out near-term catalysts as the company penetrates new market segments.
In the second quarter, AppLovin grew revenue a whopping 77% to $1.26 billion, while earnings per share from continuing operations was $2.28, up 153%. Both figures handily beat expectations. Management also guided strongly this quarter for revenue of $1.33 billion at the midpoint, along with an astonishingly high 81% adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) margin.
Source Fool.com
