AppLovin Shares Surge 34% Despite Q1 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/APP'>AppLovin Corporation (NASDAQ:APP) </a>shares surged more than 34% on Thursday despite Q1 results coming in worse than the consensus estimates. Quarterly EPS came in at ($0.31) and revenue at $625 million, both missing the Street estimates of ($0.08) and $823.37 million, respectively.  </p>
<p>The company lowered its 2022 revenue guidance to a range of $3.14-3.44 billion, below the Street estimate of $3.69 billion, while the adjusted EBITDA estimate was raised to $1.20 billion from $1 billion at the midpoint. The raise reflects the ongoing growth of the Software Platform business and expected operating improvements in Apps.</p>
<p>The rapid growth of the Software Platform and the massive reach post-MoPub acquisition give the company confidence that it is still able to do well with less reliance on first-party data from its games. That means the company will not only reduce UA investments into those games, but also consider divesting the first-party game business if that makes financial sense.</p>

NASDAQ:APP