PALO ALTO, Calif. (AP) — PALO ALTO, Calif. (AP) — AppLovin Corp. (APP) on Wednesday reported second-quarter profit of $309.9 million.

The Palo Alto, California-based company said it had profit of 89 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The mobile app technology company posted revenue of $1.08 billion in the period, which met Street forecasts.

For the current quarter ending in September, AppLovin said it expects revenue in the range of $1.12 billion to $1.14 billion.

AppLovin shares have increased 69% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $67.19, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APP at https://www.zacks.com/ap/APP