applovin inc shares fell in the extended session wednesday after the appmonetization company’s results and outlook cut disappointed wall street applovin app shares fell more than 6 after hours following a 95 drop in the regular session to close at 1374 year to date shares are down about 85 about the same drop from their april 15 2021 initial public offering that priced at 80 and closed down nearly 20 on the first day of trade in comparison the sp 500 index spx is down 21 this year and the techheavy nasdaq composite index comp is off 34 applovin reported secondquarter net income of 217 million or 6 cents a share compared with net income of 133 million or 4 cents a share in the yearago period the company reported revenue of 7131 million compared with revenue of 727 million in the yearago quarter analysts surveyed by factset had forecast adjusted earnings of 7 cents a share on revenue of 7282 million the palo alto califbased company offers marketing monetization and analytics software that helps app developers grow their businesses similar to the software unity software inc u sells to videogame makers unity also reported results after the bell wednesday posting revenue that fell short of the street consensus “the mobileapp industry is facing several headwinds” applovin said in a shareholder letter “while overall consumption of mobile gaming apps remains stable consumer spending is down compared to last year” applovin also cut its fullyear revenue outlook again this time to a range of 28 billion to 281 billion down from a previous range of 284 billion to 314 billion which itself was down from an earlier outlook of 314 billion to 344 billion meanwhile the street forecast a consensus of 293 billion read applovin ipo 5 things to know about the software company valued at nearly 30 billion the company also forecast fourthquarter revenue of 685 million to 700 million while the street had forecast 7942 million the company continued its review of its apps business as revenue fell 24 to 407 million in the third quarter from a year ago back in may applovin said it would start treating its apps business as a standalone concern “during 3q22 this included redirecting investment in new games toward key studios the sale of nonstrategic assets reducing our user acquisition spend and optimizing across the portfolio further reducing the overall headcount of the apps business and evaluating restructuring of earnout arrangements” the company said in a shareholder letter applovin is no stranger to ma in april it added streamingvideo company wurl in a 430 million cashandstock acquisition following its 105 billion acquisition of appmonetization company mopub which closed on jan 3 and its yearago 1 billion acquisition of german mobileapp measurement and marketing company adjust