Market Shift: AppLovin's Upbeat Earnings, Lockheed Martin's $30M+ Contract
- August 09th, 2023
- 357 views
AppLovin Corporation (Nasdaq: APP) reported second quarter 2023 earnings of $0.22 per share, surpassing the consensus EPS estimate of $0.07. Additionally, the company achieved quarterly sales of $750.16 million, exceeding the analysts' forecasted revenue of $724.27 million.
Looking ahead, AppLovin projects Q3 revenue to range from $780 million to $800 million, compared to the consensus estimate of $741.41 million for the period.
$APP was trading at $36.60 in after-hours, reflecting a significant increase of $7.19 or 24.45%
In unrelated news, Lockheed Martin Rotary and Mission Systems, a segment of Lockheed Martin Corporation (NYSE: LMT), has secured a contract modification worth $30,261,423 for systems engineering and integration on Navy submarines. The contract is overseen by the Naval Sea Systems Command, based in Washington, D.C.
In after-hours, $LMT was trading at $453.77, up $0.96 (+0.21%)
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