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AppLovin Stocks Jump 8.8% While Tonight's Earnings Face a $2.08 Billion Test
AppLovin (NASDAQ:APP) heads into earnings with expectations climbing fast. The advertising technology provider's shares jumped 8.84% to $267.21 at 10:25 a.m. ET on November 4, ahead of third-quarter results due after the close. The company scheduled its results webinar for 5 p.m. ET today. That rally puts pressure on management to deliver numbersand an outlookthat justify the enthusiasm.
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Management projected revenue of $2.055 billion$2.085 billion and adjusted EBITDA of $1.710 billion$1.740 billion. MarketBeat's earnings preview puts expected revenue at approximately $2.08 billion, implying about 8.1% growth from the preceding quarter's $1.924 billion. That would land just $5 million below the guidance ceiling. With expectations already near the top of the range, delivering within it may leave the next quarter's forecast carrying much of the weight.
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