Software developer AppLovin reports triple-digit sales growth
Shares of the company – developer of mobile games and applications AppLovin Corp. (APP) at the auction on November 11 rose by almost 20%, to $114.85.
The market capitalization was $42.8 billion. The reason was the report for the third quarter, in which the company attracted a record number of customers. In the past quarter, AppLovin’s revenue grew by 90% year-on-year, to $727 million, with sales of the corporate platform growing at a triple-digit rate of 385%.
The company’s services provided the primary profit growth for providing a platform for publishing applications. During the quarter, it increased revenue by 56% to $534 million. As a result, instead of a loss, AppLovin made a profit of $0.1 million.
In addition, the number of corporate clients increased by 305% year-on-year, to 449. In general, the next quarter was a record for the company, which confirmed positive expectations Ffin.ru and a bullish signal last week.
AppLovin has recently increased its potential through the acquisition of the MoPub application monetization service. The company also continues to invest in long-term growth. AppLovin is working in a promising, fast-growing direction: it offers tools that help application developers commercialize their products.
The AppLovin platform includes tools for monetization, analytics, publishing, and selling related services. These are applications for the mobile games market, as well as corporate services. The acquisition of MoPub added about 45 thousand monetized applications to the AppLovin ecosystem and strengthened the company’s competitive position.
The growth of AppLovin’s financial indicators has accelerated for four consecutive quarters, and even the recent tightening of the rules for working with advertising in the Google and Apple ecosystems has not led to a significant decrease in AppLovin’s growth rates.
The company’s management associates this with the demand for the AXON machine learning platform, which automatically analyzes data from applications to provide users with the most relevant advertising content.
