AppLovin Corp (NASDAQ:APP) reported financial results for the fourth quarter after the market close on Wednesday. Here's a look at the key details from the report.
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AppLoving Tops Expectations In Q4
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.
Total revenue was up 66% on a year-over-year basis. Cash flow from operations and free cash flow both came in at $1.31 billion in the quarter.
AppLovin repurchased $481.7 million of its common stock during the quarter and ended the period with approximately $2.49 billion in cash and cash equivalents.
AppLovin Issues Strong Forward Guidance
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’s management team will further discuss the quarter on an earnings call scheduled for 5 p.m. ET.
APP Stock Moves Lower After Hours
APP Price Action: Applovin shares were down 4.56% in after-hours, trading at $436 at the time of publication on Wednesday, according to Benzinga Pro.
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