Applovin (APP) shares are set to open at a record high Thursd🔯ay morning after the company's third-quarter earnings and 🤡outlook for the fourth quarter each beat expectations.

The software maker, which partners with app makers to provide advertising and grow their user base, reported $1.2 billion in revenue after the bell Wednesday, a jump of nearly 40% from the same time last year and better than the $1.13 billion analysts expected, according to estimates compiled by Visible Alpha. 澳洲幸运5官方开奖结果体彩网:Net income also came in well above estimates at $434.42 million, as analysts had projected $319.2 million.

Expandeꦕd ♔Stock Buyback, Q4 Guidance Above Estimates

The company said its board has also approved an additional $2 billion in stock buybacks, as it had about $300 million left in its previ🐎ous buyback program after spending about $437 million 💦on buybacks in the third quarter.

For the fourth quarter, Applovin projects $1.24 billion to $1.26 billion in revenue, above the $1.17 billion analyꩵsts had expected coming into Wednesday's earnings.

Applovin said its 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI)-powered advertising tools now make up nearly all of its "software platform" segment's revenue. The company's monthly active payers (MAP) figure, which counts each user who makes an in-app purchase in the quarter, fell to 1.6 billion users from 1.8 billion a year ago. However, its average revenue💟 per MAP rose to $52 from $46.

Applovin shares surged nearly 33% in premarket trading Thursday, poised to open at a record high of $224 as they have 澳洲幸运5官方开奖结果体彩网:skyrocketed more than 400% since the start of the year.