AppLovin's stock soared 30% after exceeding fourth-quarter earnings expectations, prompting analysts to raise price targets. Revenue surged 43% year-over-year, driven by growth in AI-powered advertising software. The company also announced the sale of its apps business to focus on other sectors, such as fintech and insurance. AppLovin was the top-performing tech stock in 2023, with gains exceeding 700%.
Shares of AppLovin ripped 30% higher following a fourth-quarter earnings beat, causing many analysts to lift their price targets.
AppLovin was the most successful tech stock in the U.S. last year, soaring over 700% and outperforming even the biggest names in the AI space.ripped 30% higher Thursday after the company reported a fourth-quarter earnings beat, causing many analysts to lift their price targets as the stock crossed the $500 mark for the first time ever.its apps business, as the company aims to move into other verticals for their AI-powered AXON advertising software like fintech, insurance and automotive.
Wall Street is bullish on AppLovin, with 77% of the analysts covering the company rating it a buy or outperform, according to a CNBC analysis. There are no sell ratings.Crypto scams likely hit a new record in 2024, driven by 'pig butchering' and AI, says Chainalysis Net income in the quarter more than tripled to $599.2 million, or $1.73 per share, from $172.3 million, or 51 cents per share, a year earlier, the company said in a statement. Revenue jumped 43% from $953.3 million a year earlier, fueled by improvements and expansions to new categories for itsin the U.S. last year, soaring over 700% and outperforming even the biggest names in the AI space.
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