Royalty revenue in the quarter rose 18% from a year earlier to $607 million.
Net income fell 6% to $210 million, or 20 cents a share, from $224 million, or 21 cents, in the year-ago quarter. Revenue jumped 34% from $928 million a year earlier.
AppLovin shares pop on earnings beat as it announces sale of mobile gaming business
AppLovin shares soared in extended trading after the company beat first-quarter expectations and announced the sale of its mobile gaming business.
AppLovin shares soared as high as 15% in extended trading after the company reported earnings and revenue that beat expectations and announced the sale of its mobile gaming business.
Here's how the company did compared to LSEG consensus estimates:
Earnings: $1.67 per share vs $1.45 per share expected
Revenue: $1.48 billion vs $1.38 billion expected
AppLovin also agreed on Wednesday to sell its mobile gaming business to Tripledot Studios in a deal worth $400 million in cash considerations.
The ad-tech firm said in February that it had signed a term sheet to sell its apps business for "total estimated consideration" of $900 million, which included $500 million in cash.
AppLovin's business has been split between advertising and apps, which is primarily made up of game studios that the company has acquired over the years. With the historic growth in its advertising unit, due to rapid advancements in artificial intelligence, the apps business had become much less important.
Sales of the company's apps-related business for the quarter came in at $325 million, which was a 14% decline from the prior year.
The company logged $1.16 billion in first-quarter advertising sales, up from $678 million a year ago.
AppLovin's stock surged over 700% in 2024 and was the top performer in the sector, thanks to the AI boom and growth in online advertising.
But the company's shares dropped 12% in February after short sellers published reports casting doubt on its AI-powered AXON advertising software.
Separately, AppLovin published a blog post on Wednesday, describing a proposed deal with ByteDance's TikTok. The company said it would not buy the TikTok U.S. operations but rather merge with the social media company, allowing it to cover "all assets outside China."
"We see this as a true partnership, leveraging our strengths to address security, data, and content challenges while unlocking massive potential," the company said in the blog post.
AppLovin CEO Adam Foroughi previously told CNBC's "The Exchange" in April that its proposal involving TikTok represented a "much stronger bid than others."
Last month, President Donald Trump extended the deadline a second time for ByteDance to sell TikTok to an American buyer or be effectively banned in the country.
"If you pair our algorithm with the TikTok audience, the expansion on that platform for dollars spent will be through the roof," Foroughi said at the time.
Foroughi on Wednesday characterized AppLovin's TikTok proposal as "a long shot." But he said the company goes "after long shots," which "shouldn't be surprising to our shareholders at this point."
He said that AppLovin's TikTok plans would involve overseeing the app's U.S. business and its operations in other parts of the world, but not China.
"We think the biggest priority is to solve national security concerns with regards to biases in the algo and data in the U.S., but that's important outside of China everywhere," Foroughi said. "And to do that, you really, truly do have to have operational control."
The device operates in a simple yet effective cycle. With the cup’s dome lid open, the sponge absorbs airborne moisture. When closed and exposed to sunlight, the material heats up and releases the collected water into the container below.
Hao revealed that the sponge absorbed about two milliliters of water per gram and released nearly all of it within 10 hours during lab tests carried out at 90 percent humidity. The prototype consists of nine sponge cubes, each weighing 0.8 grams, yielded 15 milliliters of water per harvesting cycle.
In outdoor tests, it captured 2.5 milliliters per gram overnight and released most of it during the day. “At 30 percent humidity, our device absorbed water at about 0.6 milliliters per gram,” Junfeng Hou, PhD, a professor at the Zhejiang A&F University and co-lead researcher, . “These results highlight its potential use in off-grid, solar-driven water harvesting systems.”
Meanwhile, using natural wood as the base material helped lower costs while also offering strong structural support and improving water movement thanks to its porous structure. Because of this and its stable performance over 10 cycles with under 12 percent efficiency loss, the researchers see strong potential for large-scale use in remote or arid regions.
The team is now in discussions with industry partners to scale up production and integrate the sponge system into larger, solar-powered arrays. They’re also considering integrating IoT sensors – hardware components that measure variables like temperature, pressure and motion – to automate the process based on real-time environmental conditions.
“Solar panels combined with thermal energy storage could enable round-the-clock operation, particularly in areas with intermittent sunlight,” Hao concluded in a press release.
!summarize #enterprise #ai
Royalty revenue in the quarter rose 18% from a year earlier to $607 million.
Net income fell 6% to $210 million, or 20 cents a share, from $224 million, or 21 cents, in the year-ago quarter. Revenue jumped 34% from $928 million a year earlier.
AppLovin shares pop on earnings beat as it announces sale of mobile gaming business
AppLovin shares soared in extended trading after the company beat first-quarter expectations and announced the sale of its mobile gaming business.
AppLovin shares soared as high as 15% in extended trading after the company reported earnings and revenue that beat expectations and announced the sale of its mobile gaming business.
Here's how the company did compared to LSEG consensus estimates:
Earnings: $1.67 per share vs $1.45 per share expected
Revenue: $1.48 billion vs $1.38 billion expected
AppLovin also agreed on Wednesday to sell its mobile gaming business to Tripledot Studios in a deal worth $400 million in cash considerations.
The ad-tech firm said in February that it had signed a term sheet to sell its apps business for "total estimated consideration" of $900 million, which included $500 million in cash.
AppLovin's business has been split between advertising and apps, which is primarily made up of game studios that the company has acquired over the years. With the historic growth in its advertising unit, due to rapid advancements in artificial intelligence, the apps business had become much less important.
Sales of the company's apps-related business for the quarter came in at $325 million, which was a 14% decline from the prior year.
The company logged $1.16 billion in first-quarter advertising sales, up from $678 million a year ago.
!summarize #china #switzerland #trade #tariffs
AppLovin's stock surged over 700% in 2024 and was the top performer in the sector, thanks to the AI boom and growth in online advertising.
But the company's shares dropped 12% in February after short sellers published reports casting doubt on its AI-powered AXON advertising software.
Separately, AppLovin published a blog post on Wednesday, describing a proposed deal with ByteDance's TikTok. The company said it would not buy the TikTok U.S. operations but rather merge with the social media company, allowing it to cover "all assets outside China."
"We see this as a true partnership, leveraging our strengths to address security, data, and content challenges while unlocking massive potential," the company said in the blog post.
AppLovin CEO Adam Foroughi previously told CNBC's "The Exchange" in April that its proposal involving TikTok represented a "much stronger bid than others."
Last month, President Donald Trump extended the deadline a second time for ByteDance to sell TikTok to an American buyer or be effectively banned in the country.
"If you pair our algorithm with the TikTok audience, the expansion on that platform for dollars spent will be through the roof," Foroughi said at the time.
!summarize #uk #trade
Foroughi on Wednesday characterized AppLovin's TikTok proposal as "a long shot." But he said the company goes "after long shots," which "shouldn't be surprising to our shareholders at this point."
He said that AppLovin's TikTok plans would involve overseeing the app's U.S. business and its operations in other parts of the world, but not China.
"We think the biggest priority is to solve national security concerns with regards to biases in the algo and data in the U.S., but that's important outside of China everywhere," Foroughi said. "And to do that, you really, truly do have to have operational control."
!summarize #zuckerberg #aifriends #meta #ai
!summarize #kashpatel #congress #fbi
The device operates in a simple yet effective cycle. With the cup’s dome lid open, the sponge absorbs airborne moisture. When closed and exposed to sunlight, the material heats up and releases the collected water into the container below.
Hao revealed that the sponge absorbed about two milliliters of water per gram and released nearly all of it within 10 hours during lab tests carried out at 90 percent humidity. The prototype consists of nine sponge cubes, each weighing 0.8 grams, yielded 15 milliliters of water per harvesting cycle.
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In outdoor tests, it captured 2.5 milliliters per gram overnight and released most of it during the day. “At 30 percent humidity, our device absorbed water at about 0.6 milliliters per gram,” Junfeng Hou, PhD, a professor at the Zhejiang A&F University and co-lead researcher, . “These results highlight its potential use in off-grid, solar-driven water harvesting systems.”
Meanwhile, using natural wood as the base material helped lower costs while also offering strong structural support and improving water movement thanks to its porous structure. Because of this and its stable performance over 10 cycles with under 12 percent efficiency loss, the researchers see strong potential for large-scale use in remote or arid regions.
!summarize #southcentermall #shooting #seattle #washington #crime
!summarize #trade #uk #tariffs #whitehouse
The team is now in discussions with industry partners to scale up production and integrate the sponge system into larger, solar-powered arrays. They’re also considering integrating IoT sensors – hardware components that measure variables like temperature, pressure and motion – to automate the process based on real-time environmental conditions.
“Solar panels combined with thermal energy storage could enable round-the-clock operation, particularly in areas with intermittent sunlight,” Hao concluded in a press release.
!summarize #xijinping #china #trade #economy #factories
!summarize #china #mortgage #debt #banks #economy