AppLovin Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 05:04 pm EST
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AppLovin Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 864.26 million compared to USD 713.1 million a year ago. Net income was USD 108.64 million compared to USD 23.77 million a year ago. Basic earnings per share from continuing operations was USD 0.32 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to USD 0.06 a year ago.
For the nine months, sales was USD 2,329.83 million compared to USD 2,114.75 million a year ago. Net income was USD 184.48 million compared to net loss of USD 113.23 million a year ago. Basic earnings per share from continuing operations was USD 0.51 compared to basic loss per share from continuing operations of USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to diluted loss per share from continuing operations of USD 0.3 a year ago.
AppLovin Corporation provides application technology platform, AppLovin. The Company operates through two segments: Software Platform, and Apps. Its Software Platform is primarily made up of four key solutions, such as AppDiscovery, MAX, Adjust, and Wurl. AppDiscovery is powered by AXON, its AI-powered advertising engine, and matches advertiser demand with publisher supply through auctions at vast scale and at microsecond-level speeds. MAX is a monetization solution, utilizing an advanced in-app bidding technology that optimizes the value of a publishers advertising inventory by running a real-time competitive auction. Adjust is a measurement and analytics marketing platform which provides marketers with the visibility, insights, and data needed to scale their apps marketing results. Wurl is connected TV (CTV) platform that both distributes streaming video for content companies and provides advanced advertising and publishing solutions to attract viewers and maximize revenue.