AppLovin, top tech stock of the year, soars another 45% on earnings beat
Applovin(APP) CNBC·2024-11-07 17:39
AppLovin shares soared 45% on Thursday after the online gaming and advertising company issued guidance that was well above estimates and reported better-than-expected earnings and revenue.The stock jumped past $245 in early afternoon trading. It's now up 515% this year, far outpacing all other tech companies valued at $5 billion or more, according to FactSet data. The rally has lifted AppLovin's market cap to over $80 billion.Revenue in the third quarter climbed 39% to $1.2 billion, topping the $1.13 billio ...