AppLovin Publishes Shareholder Letter Plus Q4 and FY23 Results

February 15, 2024

DENVER, Colo., Feb 15, 2024 (247marketnews.com)- Our sweet spot is reporting on listings priced at $15 and below, and some higher priced listings that look poised for appreciation. Like when we reported on AppLovin Corporation (NASDAQ:APP) in May, at $22.

AppLovin is trading at $58.555, up $11.685 (+24.93%), on trading volume of 6,776,091 shares, this morning, after announcing, after yesterday’s market close, financial results for the fourth quarter and full year ended December 31, 2023 and posted a letter to its shareholders, which stated, “Total revenue for 2023 was $3.3 billion (+17% yr/yr), with net income of $357 million at a net margin of 11%, and Adjusted EBITDA of $1.5 billion (+41% yr/yr) at an Adjusted EBITDA margin of 46%. In 2023 net cash from operating activities was $1.1 billion (+157% yr/yr) with free cash flow of $1.0 billion (+167% yr/yr). At the end of 2023 we had $502 million of cash and cash equivalents. Our team’s focus on execution and innovation in 2023 exceeded our expectations, driving double-digit revenue growth in our Software Platform business every quarter this year. Software Platform revenue grew to a record $1.8 billion (+76% yr/yr) in 2023, generating Adjusted EBITDA of $1.3 billion (+58% yr/yr) at an Adjusted EBITDA margin of 69%.

“We remain focused on delivering long-term shareholder value through a combination of share management and free cash flow generation. During 2023, we repurchased and withheld a total of 54.3 million shares of our Class A common stock, which, net of share issuances during the year, reduced our total shares outstanding by nearly 10%. We continue to remain committed to further share management through an increase to our share repurchase program of $1.25 billion.”

The complete letter is available at www.investors.applovin.com.

Connect with 24/7 Market News @
247marketnews.com
X (formerly twitter)
Facebook

About 24/7 Market News

As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community.

DISCLAIMER:
24/7 Market News (24/7MN) is a third-party publisher and online news dissemination service provider that produces regular sponsored and non-sponsored reports, articles, stock market blogs, and newsletters covering equities listed on the NYSE, NASDAQ, and micro-cap exchanges. 24/7MN holds no investment licenses and is NOT a financial advisory firm, investment adviser, analyst, or broker-dealer and does not undertake any activities that would require such registration. 24/7 MN is not affiliated with any company written about in this release and owns no shares of stock. 24/7MN’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.
The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and based on publicly available information which is believed to be reliable.
The stocks and strategies discussed are simply ideas only and are in no way financial advice or recommendations. The author may or may not at any time be holding securities discussed. The author may or may not enter trades in the stocks mentioned. Some positions in mentioned stocks may already be held or are being adjusted or are simply examples, ideas or discussion topics. You are always trading at your own risk.

Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (APP)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.