AppLovin Revenue Jumped 53%. So Why Did the Stock Just Plunge 20%?
The stock has been cut in half this year.
Overview
Investors weren't loving AppLovin's (NASDAQ: APP) Q2 results, and a difficult year for the stock just got worse. The stock crashed last week after it missed revenue expectations, and its shares have been cut in half this year, as of this writing.
Let's dig into the adtech company's results and prospects to see if this dip is a good buying opportunity.
Details
Since the launch of its artificial intelligence (AI) adtech platform, Axon 2.0, in 2023, AppLovin has seen tremendous growth. While its Q2 results came up short of analyst expectations, its growth was still strong. The company's revenue climbed 53% to $1.92 billion, which was just shy of the $1.94 billion analyst consensus.
Source
Originally published at www.fool.com.