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Q1 26 EPS
$3.56
Q1 26 Revenue
$1.84B
BEAT +3.78%
Est. $1.78B
vs S&P Since Q1 26
+14.5%
BEATING MARKET
APP +16.1% vs S&P +1.6%
Market Reaction
Did APP Beat Earnings? Q1 2026 Results
AppLovin Corp kicked off fiscal 2026 with a strong first quarter, posting earnings per share of $3.56 against a Wall Street consensus of $3.46, a beat of roughly 2.96%, while revenue of $1.84 billion topped estimates by 3.78% and climbed 24.1% year o… Read more AppLovin Corp kicked off fiscal 2026 with a strong first quarter, posting earnings per share of $3.56 against a Wall Street consensus of $3.46, a beat of roughly 2.96%, while revenue of $1.84 billion topped estimates by 3.78% and climbed 24.1% year over year. The headline numbers were underpinned by a dramatic expansion in profitability, with operating income reaching $1.44 billion and an operating margin of 78%, as the company's AI-driven advertising technology platform continued to convert scale into outsized earnings power. Net income more than doubled to $1.21 billion, lifting the GAAP net margin to 65%, while adjusted EBITDA grew 66% to $1.56 billion at an 85% margin. Free cash flow of $1.29 billion kept the balance sheet healthy even as the company returned $1.00 billion to shareholders through buybacks during the quarter. Despite some pre-earnings volatility in the stock tied to broader market caution, management expressed confidence in the company's trajectory, guiding Q2 2026 revenue to a range of $1.92 billion to $1.95 billion with adjusted EBITDA margins holding firm at 84% to 85%.
Key Takeaways
- • 59% year-over-year revenue growth driven by AI-powered advertising platform
- • Net income from continuing operations grew 67% year-over-year
- • Adjusted EBITDA margin expanded to 85% from 81% year-over-year
- • Net margin improved to 65% from 50% year-over-year
- • Elimination of losses from discontinued operations (games business divested)
APP Forward Guidance & Outlook
AppLovin provided Q2 2026 guidance with revenue expected between $1,915 million and $1,945 million, Adjusted EBITDA between $1,615 million and $1,645 million, and Adjusted EBITDA margin of 84% to 85%. This guidance implies continued strong revenue growth and margin expansion.
APP YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
APP Revenue by Segment
With YoY comparisons, source: SEC Filings
APP Earnings Trends
APP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
APP EPS Trend
Earnings per share: estimate vs actual
APP Revenue Trend
Quarterly revenue: estimate vs actual
APP Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $3.56 | — | $1.84B | +3.78% |
| Q4 25 BEAT FY | $3.11 | $3.24 | +4.18% | $1.66B | +3.35% |
| FY Full Year | $9.36 | $9.75 | +4.22% | $5.48B | -4.72% |
| Q3 25 BEAT | $2.39 | $2.45 | +2.57% | $1.41B | +4.69% |
| Q2 25 BEAT | $2.32 | $2.39 | +3.24% | $1.26B | +3.15% |
| Q1 25 MISS | $1.96 | $1.67 | -14.58% | $1.48B | +7.65% |
| Q1 23 | $0.07 | — | — | $715.4M | +3.16% |