BUZZ-AppLovin Q2 revenue miss drags US software stocks lower
APP•AppLovin revenue miss weighs on software stocks
Shares of U.S. software stocks fell premarket after AppLovin APP.O missed Q2 revenue estimates.
The marketing platform's Q2 revenue of $1.924 billion missed analysts' average estimate of $1.935 billion, according to data compiled by LSEG.
APP was down 19.3% at $336.99.
Other software names and sector ETF also decline
Other software stocks also fell, with Oracle ORCL.N down 2.2% and Salesforce CRM.N sliding 4.7%.
ServiceNow NOW.N fell 3.6%, Adobe ADBE.O shed 3.5% and Intuit INTU.O was down 2.7%.
The iShares Expanded Tech-Software Sector ETF IGV.N also fell 2.7%.
