"Q3 in a nutshell AppLovin, which reported its Q3 earnings on Wednesday, generated just over $1.4 billion in revenue for the quarter, up 68% year-over-year from $835 million. Free cash flow nearly doubled to $1.05 billion, an increase of 92% from the year-ago quarter. The company's stock popped around 7% in after-hours trading and was still up when the market opened on Thursday morning."
"The Securities and Exchange Commission launched an investigation last month into its data collection practices, which include allegedly using device fingerprinting to target ads. Short-sellers accused the company of violating app store policies by extracting proprietary IDs from platforms without user consent. Meanwhile, multiple state attorneys general have reportedly begun preliminary probes into AppLovin's consumer data privacy practices, and the company recently discontinued a controversial app distribution tool called Array after accusations that it downloaded apps onto devices without explicit consent."
The SEC launched an investigation into AppLovin's data collection practices, including alleged device fingerprinting to target ads. Short-sellers accused the company of violating app store policies by extracting proprietary IDs from platforms without user consent. Multiple state attorneys general opened preliminary probes into consumer data privacy practices. AppLovin discontinued the Array app distribution tool after accusations that it downloaded apps onto devices without explicit consent. Investors remained largely untroubled as Q3 revenue rose to just over $1.4 billion, up 68% year-over-year, and free cash flow nearly doubled to $1.05 billion, a 92% increase. The stock jumped about 7% in after-hours trading. Axon Ads Manager launched as an invite-only, AI-assisted self-serve ad platform.
Read at AdExchanger
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