AppLovin (NASDAQ: APP) surged in pre-market trading at the time of writing on Thursday after the mobile technology company swung to a profit in Q2 and reported earnings of $0.22 per share as compared to a loss of $0.06 per share and above analysts’ consensus estimate of $0.10 per share.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
However, the company’s revenues declined by 3% year-over-year to $750 million, beating Street estimates of $741.63 million.
Looking forward, management now expects Q3 total revenues in the range of $780 million to $800 million, while adjusted EBITDA is projected to be between $340 million and $360 million.
Analysts are cautiously optimistic about APP stock, with a Moderate Buy consensus rating based on eight Buys, four Holds, and one Sell.
