Applovin Corporation (NASDAQ:APP) shares are trading higher Thursday after the company reported better-than-expected first-quarter earnings on Wednesday.

What To Know: The company reported adjusted earnings per share of $1.67, beating the consensus estimate of $1.45. In addition, the company reported sales of $1.48 billion, beating the consensus estimate of $1.38 billion and representing a 40% year-over-year increase.

The company broke down revenue further, reporting $1.15 billion in Advertising revenue and $325 million in Apps revenue. Advertising revenue increased 71% year-over-year and Apps revenue declined 14%.

Outlook: The company guided second-quarter advertising revenue from $1.19 billion to $1.21 billion.

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APP Price Action: At the time of publication, Applovin stock is trading 12.9% higher at $342.74, per data from Benzinga Pro.

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