BUZZ-AppLovin climbs on $800 million game portfolio sale, strong Q1 earnings
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Shares of AppLovin rose 14.6% to $347.90 premarket following the announcement of an $800 million sale of its mobile game portfolio to Tripledot Studios. The deal includes 10 game studios and popular titles like Cash Tornado and Wordscapes, expanding Tripledot's reach. Additionally, AppLovin reported Q1 sales of $1.48 billion, exceeding estimates, with a profit of $1.67 per share, up from 67 cents a year ago. Despite this, the stock is down 6.3% year-to-date.
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