APP is trading at $430.00 (-5.87%) in pre-market following its February 11 earnings report, as broader ad-tech sector turmoil and AI disruption concerns overshadow a significant earnings beat.
- The company reported diluted EPS of $3.24 on $1.66 billion in revenue, surpassing consensus estimates of $2.95 and $1.62 billion respectively.
- Investor sentiment was pressured by the launch of CloudX and its potential for AI disruption in mobile advertising, alongside general software sector weakness.