adminAppLovin Jumps 50% on Strong Earnings, Outlook
44 minutes ago
AppLovin (APP) shares surged to a record high Thursday morning after the software maker’s third-quarter earnings and outlook for the fourth quarter each beat expectations.
The company, which partners with app makers to provide advertising and grow their user bases, reported $1.2 billion in revenue, a jump of nearly 40% from the same time last year and slightly better than analysts had expected. Net income came in well above estimates at $434.42 million, as analysts had projected $319.2 million.
For the fourth quarter, AppLovin projects $1.24 billion to $1.26 billion in revenue, above the $1.17 billion analysts had expected coming into the late-Wednesday earnings release.
AppLovin said its AI-powered advertising tools now make up nearly all of its "software platform" segment's revenue. The company's monthly active payers (MAP) figure, which counts each user who makes an in-app purchase in the quarter, fell to 1.6 billion users from 1.8 billion a year ago. However, its average revenue per MAP rose to $52 from $46.
AppLovin shares were up 47% in recent trading, boosting its year-to-date gains to more than 500%.
–Aaron McDade
Tesla Levels to Watch After Post-Election Jump
1 hr 59 min ago
Tesla (TSLA) shares are down slightly this morning after surging Wednesday amid investor expectations that the EV maker could benefit from Donald Trump’s return to the presidency, as CEO Elon Musk has been one of the former president’s most prominent supporters.
The stock, which hit a 15-month high yesterday, was down 0.4% at around $287.50 in recent premarket trading. The stock has more than doubled since hitting its low for the year in April.
The stock has traded within an ascending triangle, a bullish chart pattern that indicates a continuation of the uptrend that started in April.
Investors should watch key overhead levels on Tesla's chart around $300 and $350, while monitoring important support areas near $265 and $230.
Read the full technical analysis piece here.
–Timothy Smith
Futures Point to Higher Open for Major Indexes
2 hr 50 min ago
Futures tied to the Dow Jones Industrial Average were up 0.2%.
S&P 500 futures were also up 0.2%.
Nasdaq 100 futures were up 0.4%.
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