AppLovin Corp (NASDAQ:APP) reported better-than-expected financial results for the fourth quarter after the market close on Wednesday.
AppLovin reported fourth-quarter revenue of $1.66 billion, beating analyst estimates of $1.60 billion, according to Benzinga Pro. The advertising technology company reported fourth-quarter earnings of $3.24 per share, beating analyst estimates of $2.95 per share.
AppLovin expects first-quarter revenue to be in the range of approximately $1.75 billion to $1.78 billion versus estimates of $1.69 billion. The company anticipates first-quarter adjusted EBITDA of approximately $1.47 billion to $1.50 billion.
AppLovin shares fell 7.3% to $423.55 in pre-market trading.
These analysts made changes to their price targets on AppLovin following earnings announcement.
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