Applovin Q1 performance exceeds expectations, agrees to sell mobile gaming division.

According to the Zhtng Cijng app, after the US stock market closed on Wednesday, Applovin (APP.US) announced its first-quarter performance. Data shows that the company's Q1 revenue was $1.48 billion, a 40% year-on-year increase, exceeding market expectations; adjusted earnings per share were $1.67, also exceeding market expectations. AppLovin has agreed to sell its mobile gaming division to London-based Tripledot Studios in order to focus on its advertising technology business.