Applovin reported impressive earnings with an EPS of $1.67, surpassing the estimate of $1.44, and showing significant year-over-year growth from 67 cents. Revenue reached $1.48 billion, outpacing expectations of $1.38 billion, largely due to a 71% year-over-year increase in ad revenue. The company expects further growth, with second-quarter guidance projected at $1.2 billion. Analysts from firms like Jefferies and Morgan Stanley have raised their price targets for the stock, citing robust performance, particularly in gaming ads, which contributed approximately $150 million in 1Q.
Shares of mobile tech company, Applovin ( NASDAQ: APP) are up another 12% to $340.53, all after the company crushed earnings.
Earnings per share of $1.67 easily trounced estimates of $1.44, and revenue soared to $1.48 billion, exceeding expectations.
Analysts at Jefferies reiterated their buy rating on PLTR with a price target of $530 - up from $460, highlighting significantly impressive growth.
Morgan Stanley reiterated its overweight rating with a price target of $420, noting the core gaming ads outperformed expectations this quarter.
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