Shares of AppLovin (NASDAQ: APP) rallied 22.5% in August, according to data from S&P Global Market Intelligence. The artificial intelligence (AI)-powered mobile game advertising engine delivered another exceptional quarter when it reported second-quarter earnings on Aug. 6. Not only were results great, but management also laid out near-term catalysts as the company penetrates new market segments. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now.
AppLovin develops ad tech software with a focus on mobile and connected TV campaigns, recently expanding into e-commerce advertising, highlighting growth opportunities.
AppLovin reported a significant revenue jump of 77% to $1.26 billion in its recent quarter, exceeding analyst expectations of $1.22 billion, despite the sale of its Apps business. Adjusted EBITDA nearly doubled to $1.02 billion, indicating strong operational performance and profitability.