AppLovin Q1 results exceed expectations, net profit surges 109% year-over-year
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AppLovin announced on May 7 through Gelonghui that its first-quarter revenue increased by 59% year-on-year to $1.842 billion, surpassing the market expectation of $1.77 billion. Net profit rose by 109% year-on-year to $1.206 billion, with diluted earnings per share at $3.56, also beating the forecasted $3.44. The better-than-expected performance was mainly attributed to its artificial intelligence advertising engine AXON, which precisely matches users with relevant ads, thereby improving advertisers' returns and increasing monetization for app publishers. The company expects second-quarter revenue to be between $1.92 billion and $1.95 billion, overall exceeding the market expectation of $1.89 billion.
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