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Why AppLovin Stock Soared Higher Today

Why AppLovin Stock Soared Higher Today

Shares of mobile-app developer and software company AppLovin (NASDAQ: APP) soared higher on Thursday after the company released financial results for the first quarter of 2023. As of 10 a.m. ET, AppLovin stock was up 24%. In Q1, AppLovin generated revenue of $715 million, up 14% year over year and well ahead of management's guidance of $685 million to $705 million.