APPS Stock Climbs On ‘Strategic Partnership’ With Google Cloud

Digital Turbine (APPS) shares climbed Tuesday after the mobile app and advertising software maker announced a “multiyear strategic partnership” with Alphabet‘s (GOOGL) Google Cloud Platform. APPS stock moved above its 50-day moving average with the gain.




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Digital Turbine said it’ll work with Google cloud partner SADA to build products for the Android mobile ecosystem. SADA is a global business and technology consultancy.

“By partnering with Google we are efficiently powering app discovery for nearly a billion Android devices globally while simultaneously expanding our footprint across the Android ecosystem including mobile, TV and connected devices,” Digital Turbine Chief Executive Bill Stone said in a news release.

APPS stock climbed 4.8% to 66.52 in early trading on the stock market today. Digital Turbine stock has gained 19% in 2021.

APPS Stock Expanding Into Internet TV

The company’s third-quarter earnings were 44 cents a share, up 193% from a year earlier, amid acquisitions. Also, revenue rose 338% to $310.2 million. That topped estimates of a 39-cent per-share profit on revenue of $306.5 million.

Digital Turbine connects wireless service providers, smartphone makers, and publishers with app developers and advertisers. In addition, the company has expanded from mobile into internet TV.

Most revenue comes from Digital Turbine’s “dynamic installer” for mobile apps. With the February 2020 acquisition of Mobile Posse for a reported $66 million, Digital Turbine diversified into supplying content.

Also, APPS stock holds an IBD Relative Strength Rating of 26 out of a best-possible 99, according to IBD Stock Checkup.

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Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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