AppLovin reported better-than-expected earnings for the second quarter, resulting in an 11% increase in shares and a total rise of 34% for the year. The company has seen substantial growth due to advances in artificial intelligence, allowing advertisers improved user targeting within mobile games. CEO Adam Foroughi anticipates growth will continue as legal challenges between Apple and Epic Games unfold. Changes in App Store policies are expected to enable developers to spend more on advertising, benefiting AppLovin as competition among developers increases in the advertising space.
AppLovin shares experienced an 11% surge after the ad-tech company reported better-than-expected earnings for the second quarter, resulting in a 34% increase year-to-date.
CEO Adam Foroughi indicated an impending wave of growth due to an ongoing legal battle between Apple and Epic Games, suggesting significant changes in developer spending on advertising.
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