AppLovin Corporation (APP) reported Q2 earnings on August 7, 2023, achieving EPS of $0.89, exceeding estimates of $0.77. The company’s revenues hit $1.08 billion, with an Adjusted EBITDA of $601 million, representing an 80% year-over-year increase and a 56% margin.
Monthly Active Payers fell to 1.6 million from 1.7 million year-over-year. The company is projecting Q3 revenue between $1.12 billion and $1.14 billion, surpassing the $1.09 billion estimate, and expects an Adjusted EBITDA of $630-650 million at a 57% margin.
Following the earnings release, AppLovin’s stock price fluctuated, initially dropping over 10% in after-hours trading but subsequently rebounding and increasing by as much as 14% the next day.
