20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Applovin Corp (NASDAQ:APP) shares are trading higher in Wednesday's after-hours session after the company reported better-than-expected financial results.
- Q3 Revenue: $864 million beat estimates of $797 million
- Q3 EPS: 30 cents beat estimates of 27 cents
Software platform revenue was up 65%, while Apps revenue fell 11%. Total revenue grew 21% year-over-year.
Net cash from operating activities came in at $199 million, and free cash flow was $194 million in the third quarter.
"We are thrilled to announce our best quarter ever leading to very strong financial results," said Adam Foroughi, co-founder and CEO of AppLovin.
Applovin also announced a management transition. President and CFO Herald Chen will step down from his full-time role at the end of the year, but will remain a member of the board and serve as an advisor to the CEO.
Matt Stumpf, current vice president of finance and FP&A, has been appointed as CFO and current vice president controller Dmitriy Dorosh has been designated principal accounting officer, both effective Jan. 1, 2024.
Management will hold a conference call at 5 p.m. ET.
APP Price Action: Applovin shares were up 14.6% after hours at $45.95 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Applovin.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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