AppLovin skyrockets 33% after earnings beat, strong guidance as analysts raise price target
1. Applovin's Q4 earnings surpassed expectations significantly, boosting its stock by over 30%. 2. Net income rose to $599.2 million from $172.3 million, a 247% year-over-year increase. 3. Revenue grew 43% to $1.37 billion, supported by advancements in AI-driven advertising. 4. Analysts significantly raised price targets following strong earnings and a strategic asset sale. 5. CEO announced plans to divest the apps business, expected to finalize in Q2.