AppLovin Shares Soar as Artificial Intelligence (AI) Drives Huge Revenue Surge. Up Nearly 400% in the Past Year, Is It Too Late to Buy the Stock?
Shares of AppLovin (NASDAQ: APP) jumped following its first-quarter earnings report, which saw the adtech company's revenue surge 48% to $1.06 billion. The stock has been one of the market's standout performers over the past year, up nearly 400%.
Let's look at what has been driving the company's success, if it can continue, and whether it is too late to buy the stock.
AppLovin's fortunes changed for the better after the company released its Axon 2 artificial intelligence (AI)-based advertising technology in Q2 of last year. Since the release of Axon 2, AppLovin has seen its quarterly software platform revenue growth accelerate each quarter.
Source Fool.com