Applovin Corporation (NASDAQ:APP) stock is trading on volatility Thursday. The company released its second quarter financial results on Wednesday after the market closed.
What To Know: Applovin reported earnings per share of $2.39, beating the consensus estimate of $2.04. In addition, the company reported sales of $1.25 billion, missing the consensus estimate of $1.30 billion.
Net cash from operating activities totaled $772 million, while free cash flow reached $768 million in the second quarter. The company also repurchased 0.9 million shares for $341 million during the period.
The company completed the $400 million sale of its Apps business to Tripledot Studios. The deal also included equity consideration worth about 20% of Tripledot's fully diluted equity.
Q3 Outlook: The company sees sales from $1.32 billion to $1.34 billion, versus the consensus estimate of $1.31 billon.
Related Link: Krispy Kreme’s Q2 Margin Squeeze—Reveals New Plan To Power Q3 Profit
APP Price Action: At the time of writing, Applovin stock is trading 13.1% higher at $441.58, according to data from Benzinga Pro.
Image via Shutterstock
