AppLovin Slides 4.98% Ahead of Upcoming Earnings Report

AppLovin shares closed at $290.43, down 4.98% in the latest session. The decline was steeper than the S&P 500's 0.25% loss and the Dow's 0.86% drop. The Nasdaq rose 0.24%.

Over the previous month, the stock lost 1.95%. That was a smaller decline than the Business Services sector's 5.76% drop, but larger than the S&P 500's 0.42% loss.

Ahead of the company's upcoming earnings report, Zacks consensus estimates call for earnings of $3.95 per share and revenue of $2.08 billion. Those forecasts represent increases of 61.22% and 47.82%, respectively, from the same quarter a year earlier.

For the full fiscal year, Zacks estimates earnings of $15.76 per share and revenue of $8.12 billion. The consensus earnings-per-share estimate has risen 1.49% over the past month.