The company states: "Our financial results for the third quarter of 2022 reflect the resilient demand for our high-margin Software Platform and our proactive actions to optimize the Apps segment for higher cash flow as we navigate a challenging backdrop of the mobile app industry. Our industry-leading software solutions continue to enable marketers to reach and monetize audiences with superior performance. This leadership in performance is how we historically achieved rapid year-over-year growth and remains the key to our long-term success. We appreciate that it is a difficult year for investors in high-growth, technology businesses – including AppLovin. The broader macroeconomic environment changed rapidly while the mobile app economy shifted from a period of consistent growth to contraction. These trends make it tougher for companies like ours to grow. Notwithstanding, we believe that we are uniquely positioned to emerge from the current economic downturn stronger than ever given our distinctive technology, our strong and scaled platform, and our superior team. We’re projecting to generate over $1 billion Adjusted EBITDA this year and to convert a significant percentage to cash. The stability of our market-leading solutions and cash generation gives us the ability to invest in a disciplined way to maintain and grow our leadership both in our core category and, over time, in adjacent markets that build on our core."
Published first on TheFly
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