Applovin’s stock rockets as earnings easily exceed expectations

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CEO says company had its ‘best quarter ever’

Applovin Corp. shares were surging more than 15% in Wednesday’s extended session after the app-monetization company blew past expectations with its latest quarterly results.

Applovin APP, -1.88% also recorded adjusted earnings before interest, taxes, depreciation and amortization of $419 million, while analysts were looking for $355 million. “We are thrilled to announce our best quarter ever leading to very strong financial results,” Chief Executive Adam Foroughi said in a release.

 

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