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Applovin shares soared as high as 15% in extended trading after the company reported earnings and revenue that beat expectations and announced the sale of its mobile gaming business.
Here’s how the company did compared to LSEG consensus estimates:
- Earnings: $1.67 per share vs $1.45 per share expected
- Revenue: $1.48 billion vs $1.38 billion expected
The ad tech company said it is selling its mobile gaming business to Tripledot Studios “for consideration of $400 million in cash and a 20% stake in Tripledot common equity.” The deal is expected to close in the second quarter of 2025.
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