BUZZ-AppLovin soars after upbeat Q1 forecasts, Q4 results

Marketing software company AppLovin's APP.O shares rise ~30% to $493.31 premarket

Company forecast Q1 revenue and profit above estimates after market close on Wednesday

Company also posted Q4 results that beat estimates, boosted by a 73% rise in advertising segment's revenue

APP expects Q1 revenue between $1.36 billion and $1.39 billion vs estimates of $1.35 billion - data compiled by LSEG

Forecasts Q1 adjusted EBITDA between $855 million and $885 million vs estimates of $818.6 million

Q4 revenue of $1.37 billion beat estimates of $1.26 billion, while EPS of $1.73 beat estimates of $1.24

Co plans to sell its mobile gaming business to a privately held company for a $900 million cash and stock deal

At least three brokerages raise PT on stock

Jefferies raises PT to Street-high of $600 from $460, says gaming advertisers had been skeptical to advertise using APP, which is now lifted due to proposed sale of segment

APP rose 712.6% in 2024