AppLovin (AppLovin (APP)) reported first-quarter earnings after the bell Wednesday, and the numbers were strong enough to send shares higher in after-hours trading.
The ad-tech company posted revenue of $1.84 billion, beating analyst estimates of $1.77 billion. Earnings came in at $3.56 per share, also ahead of the $3.38 consensus. Revenue jumped 59% compared to the same quarter last year.
Cash flow was impressive too — both operating cash flow and free cash flow hit $1.30 billion for the quarter. AppLovin also used some of that cash to repurchase $1 billion of its own stock, and it ended the period with about $2.76 billion in cash and equivalents.
Looking ahead, AppLovin expects second-quarter revenue between $1.92 billion and $1.95 billion, above the $1.89 billion analysts were looking for. The company also guided for adjusted EBITDA of $1.62 billion to $1.65 billion.
Executives will discuss the results further on an earnings call at 5 p.m. ET.
AppLovin shares were up 2.28% in after-hours trading, changing hands at $479.64 at the time of publication.














