AppLovin Shares Sink 17% Even as Sales Grow 53%

AppLovin shares fell 17% on August 6. Sales hit $1.92 billion, up 52.8% from a year ago, and profit reached $1.267 billion. But investors had expected even higher sales, so the stock's price dropped. Growth also slowed from 59% last quarter, hinting the company's momentum may be cooling faster than analysts predicted.