AppLovin Stock Jumps 20% On Strong Revenue, Earnings Growth

AppLovin a

228.14 CHF 21.44%

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(RTTNews) - AppLovin Corporation (APP) is up 20.66 percent, surging $99.27 to $479.59. The stock's sharp rise follows the company's strong first-quarter results, with revenue reaching $1.37 billion, up from $953.26 million, and net income climbing to $599.20 million from $172.23 million.

APP is currently trading at $458.88, up from the previous close of $380.32. The stock has fluctuated between $478.16 and $525.04 in today's session. Trading volume stands at 10.73 million shares, more than double the average volume of 5.47 million.

The stock is testing the upper end of its 52-week range of $52.75 to $525.04, as investors react positively to the company's significant earnings growth.