PALO ALTO, Calif. (AP) — PALO ALTO, Calif. (AP) — AppLovin Corp. (APP) on Wednesday reported a fourth-quarter loss of $79.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Palo Alto, California-based company said it had a loss of 21 cents. Earnings, adjusted for asset impairment costs, came to less than 1 cent on a per-share basis.
The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The mobile app technology company posted revenue of $702.3 million in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $690.1 million.
For the year, the company reported a loss of $192.7 million, or 52 cents per share, swinging to a loss in the period. Revenue was reported as $2.82 billion.
For the current quarter ending in March, AppLovin said it expects revenue in the range of $685 million to $705 million.
AppLovin shares have climbed 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.68, a fall of 82% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APP at https://www.zacks.com/ap/APP
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