APPLOVIN CORPORATION Reports Earnings Results for Quarter Ended June 30 2023
August 19, 2023
🌥️Earnings Overview
On August 9, 2023, APPLOVIN CORPORATION ($NASDAQ:APP) released its financial results for the quarter ending June 30, 2023. Their total revenue for the last quarter was USD 750.2 million, a 3.4% decrease compared to the same period in the prior year. Net income in this quarter was USD 80.4 million, a significant increase from the prior year’s loss of -21.8 million.
Stock Price
On Wednesday, APPLOVIN CORPORATION reported its earnings results for the quarter ended June 30 2023. The stock opened at $30.0 and closed at $29.4, a decrease of 2.1% from the previous closing price of $30.0. This decline in stock prices came despite the company’s strong financial performance in the quarter, which was driven by a growth in revenues and an increase in gross margins. The results indicate that the company is continuing to make progress and deliver strong financial performance, which should remain a positive for the stock over the long term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Applovin Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 2.88k | 19.8 | 0.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Applovin Corporation. More…
| Operations | Investing | Financing |
| 856.14 | -74.92 | -859.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Applovin Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.48k | 3.96k | 4.36 |
Key Ratios Snapshot
Some of the financial key ratios for Applovin Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 41.5% | – | 8.9% |
| FCF Margin | ROE | ROA |
| 29.3% | 9.4% | 2.9% |
Analysis
At GoodWhale, we believe that analyzing a company’s fundamentals is essential for making informed investment decisions. That’s why we have taken a closer look at APPLOVIN CORPORATION and its financial and business characteristics. After going through our comprehensive evaluation process, GoodWhale has assigned APPLOVIN CORPORATION a high risk rating. This means that there are some risk factors associated with this company that investors should be aware of. Furthermore, our analysis of the company’s income sheet, balance sheet, and cashflow statement revealed three distinct risk warnings which could impact the profitability of the company. To get more information about these risk warnings, register on GoodWhale.com. More…
Peers
Its competitors include NeoMedia Technologies Inc, Artificial Life Inc, and Kange Corp.
– NeoMedia Technologies Inc ($OTCPK:NEOM)
NeoMedia Technologies, Inc. is a global leader in barcode scanning solutions for mobile devices. Its innovative technology enables users to scan and decode barcodes with their camera-enabled mobile device, making it easy and convenient for them to access digital content and services. The company has a strong portfolio of patents and licenses that cover a wide range of barcode scanning technologies. NeoMedia is headquartered in Atlanta, Georgia, USA, with offices in Europe, Asia and South America.
– Artificial Life Inc ($OTCPK:ALIF)
Artificial Life Inc is a publicly traded company with a market capitalization of 4.14 million as of 2022. The company focuses on the development and commercialization of artificial intelligence technology. Artificial Life’s return on equity is 6.65%.
– Kange Corp ($OTCPK:KGNR)
Kange Corp is a publicly traded company with a market capitalization of 125.47M as of 2022. The company has a Return on Equity of 51.01%.
Kange Corp is engaged in the business of providing engineering, construction and project management services. The company’s services include the design and construction of power plants, transmission lines, pipelines and other infrastructure projects.
Summary
Investors may be encouraged by AppLovin Corporation‘s second quarter results which saw total revenue of USD 750.2 million, a 3.4% decrease from the same period last year. Net income for the quarter was USD 80.4 million, indicating a positive swing from the prior year’s loss of -21.8 million. This suggests that the company is back on track after facing economic challenges posed by the pandemic. Moving forward, investors will be closely watching AppLovin Corporation’s progress in terms of revenue growth and profitability, while also examining potential new opportunities for diversification and long-term growth.
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