- First public quarterly results
AppLovin Corp. (APP) shares shifted between gains and losses in the extended session Wednesday following the marketing software company’s first quarterly results as a public company. AppLovin shares, which had originally gained about 3% after hours, were last down 2.4% in the extended session. Shares closed down 2.3% in the regular session at $52.25.
The company reported a first-quarter loss of $10.5 million, or 5 cents a share, versus net income of $3 million, or a penny a share, in the year-ago period. Revenue surged to $603.9 million from $260.2 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast a loss of a penny a share on revenue of $557.3 million. AppLovin forecast fiscal 2021 revenue of $2.65 billion to $2.7 billion, while analysts estimate revenue of $2.51 billion for the year. AppLovin shares went public on April 15 and closed down nearly 20% from their IPO price on their first day of trading.
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