PALO ALTO, Calif. (AP) — PALO ALTO, Calif. (AP) — AppLovin Corp. (APP) on Wednesday reported fourth-quarter net income of $171.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Palo Alto, California-based company said it had net income of 49 cents.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The mobile app technology company posted revenue of $953.3 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $923 million.

For the year, the company reported net income of $354.9 million, or 98 cents per share, swinging to a profit in the period. Revenue was reported as $2.63 billion.

For the current quarter ending in March, AppLovin said it expects revenue in the range of $955 million to $975 million.

AppLovin shares have risen 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.87, nearly tripling 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