BUZZ-AppLovin soars to all-time high after upbeat first-quarter forecasts

Updates

Marketing software company AppLovin's APP.O shares rise as much as 38% to a record high of $525.04 in early trading

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

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

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

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 seven brokerages raise PT on stock

Brokerage Jefferies 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