AppLovin Q3 revenue jumps 55%, beats expectations
APP•AppLovin's Q3 revenue rose 55% year over year to $2.19 billion, beating expectations, as adjusted EPS, net income and adjusted EBITDA also topped estimates. The company forecast Q4 revenue of $2.37 billion to $2.40 billion and raised its share repurchase authorization to $3.6 billion.
1. Quarterly results
AppLovin reported Q3 revenue of $2.19 billion, up 55% year over year and above the $2.08 billion consensus estimate. Adjusted EPS was $4.31 versus $4.04 expected, net income was $1.44 billion versus $1.37 billion expected, and adjusted EBITDA was $1.84 billion versus $1.73 billion expected.
2. Fourth-quarter outlook
The company expects Q4 revenue of $2.37 billion to $2.40 billion and adjusted EBITDA of $2.00 billion to $2.03 billion, with an adjusted EBITDA margin of 84% to 85%. AppLovin also raised its share repurchase authorization to $3.6 billion.
