Why AppLovin Stock Skyrocketed to a New All-Time High Today at Over $500 Per Share
Shares of digital advertising company AppLovin (NASDAQ: APP) absolutely skyrocketed on Thursday after the company smashed expectations with its financial report for the fourth quarter of 2024. As of 11 a.m. ET, AppLovin stock was up 31% and had hit an all-time high at over $500 per share.Only founded in 2011, AppLovin now has a market capitalization of over $160 billion as of today. The company managed to generate revenue of $4.7 billion in 2024, which was up 43% from 2023. And the amazing thing is that the growth rate accelerated in Q4, hitting 44%. In third quarter, revenue was only up by 39% year over year. And management had only guided for 32% growth for Q4 -- simply put, top-line expectations were smashed.It's hard to truly appreciate just how efficient AppLovin's growth has been. Its software helps app companies get discovered and monetized. The company's software revenue jumped a stunning 73% year over year in Q4 and much of the growth dropped to the bottom line. It had Q4 net income of $599 million, which represents a profit margin of nearly 44%.Continue reading
Shares of digital advertising company AppLovin (NASDAQ: APP) absolutely skyrocketed on Thursday after the company smashed expectations with its financial report for the fourth quarter of 2024. As of 11 a.m. ET, AppLovin stock was up 31% and had hit an all-time high at over $500 per share.
Only founded in 2011, AppLovin now has a market capitalization of over $160 billion as of today. The company managed to generate revenue of $4.7 billion in 2024, which was up 43% from 2023. And the amazing thing is that the growth rate accelerated in Q4, hitting 44%. In third quarter, revenue was only up by 39% year over year. And management had only guided for 32% growth for Q4 -- simply put, top-line expectations were smashed.
It's hard to truly appreciate just how efficient AppLovin's growth has been. Its software helps app companies get discovered and monetized. The company's software revenue jumped a stunning 73% year over year in Q4 and much of the growth dropped to the bottom line. It had Q4 net income of $599 million, which represents a profit margin of nearly 44%.
