AppLovin slides on revenue miss and soft guidance
-19.66% to $335.67 from $417.80
What moved APP
- AppLovin posted adjusted second-quarter earnings of $3.76 per share, just above the $3.75 estimate, but revenue of $1.92 billion came in below the $1.94 billion analyst consensus even though it grew 53% year-over-year.
- Third-quarter revenue guidance of $2.06 billion to $2.09 billion had a midpoint slightly below the $2.08 billion Wall Street consensus.
- It was the first time AppLovin missed its own guidance midpoints for revenue and adjusted EBITDA since going public.
Sources: Investing.com · Yahoo Finance