AppLovin saw a significant increase in its stock price, jumping 32% after it reported impressive fourth-quarter earnings that exceeded Wall Street estimates. The company achieved revenue of $1.37 billion, up 44% from a year earlier, with advertising revenue rising 73% to nearly $1 billion. Net income skyrocketed to $599.2 million, up from $171.5 million, and AppLovin forecasted that advertising revenue would surpass the $1 billion mark in the upcoming quarter. The company is also leveraging artificial intelligence to enhance personalized advertising through its AXON ad search engine.
AppLovin has embraced artificial intelligence, beginning a number of years ago when it started buying gaming companies to train its machine learning models.
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