On November 5, AppLovin Corporation recorded an Intraday Rise of 28.96% in Regular Trading, trading at $342.77 with turnover of $7.49 billion.

The move followed the company’s latest quarterly report, which showed results above market expectations and fourth-quarter guidance that came in well ahead of consensus, reinforcing optimism around the growth trajectory of its advertising platform business.

For the third quarter, AppLovin Corporation reported revenue of about $2.185 billion, adjusted EPS of $4.30, adjusted EBITDA of $1.84 billion, and free cash flow of $1.4 billion. The company guided fourth-quarter revenue to $2.37 billion to $2.40 billion, with a midpoint of $2.39 billion versus Wall Street expectations near $2.25 billion. It also reported net income of $1.44 billion, repurchased 4.1 million shares for $1.4 billion during the quarter, and added a new $3.2 billion buyback authorization. Separately, Evercore ISI raised its price target to $540 from $510 on November 5.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)