AppLovin Announces $500 Million for Share Buybacks; Stock Surged Over 7% Amid Talks to Sell Gaming Unit to Tripledot Studios for $900 Million

AppLovin Corporation ($APP) has announced that it will make $500 million available for immediate share repurchases, leading to a stock surge of over 7%. This decision was disclosed in a regulatory filing, indicating the company's commitment to enhancing shareholder value. Additionally, AppLovin is reportedly in discussions to sell its gaming unit to Tripledot Studios in a deal valued at $900 million. Sources suggest that this transaction could further reshape AppLovin's business strategy as it focuses on its core advertising operations.