Q2 26 EPS GAAP
$3.76
BEAT +0.14%
Est. $3.75
Q2 26 Revenue
$1.92B
MISS 0.94%
Est. $1.94B
vs S&P Since Q2 26
-21.2%
TRAILING MARKET
APP -20.8% vs S&P +0.4%
Market Reaction
Did APP Beat Earnings? Q2 2026 Results
AppLovin posted a mixed but broadly strong second quarter for 2026, investors were watching closely heading into the report, and the company delivered its fourth consecutive GAAP EPS beat, earning $3.76 per share against a consensus estimate of $3.75… Read more AppLovin posted a mixed but broadly strong second quarter for 2026, investors were watching closely heading into the report, and the company delivered its fourth consecutive GAAP EPS beat, earning $3.76 per share against a consensus estimate of $3.75, a 0.14% beat. Revenue of $1.92 billion rose 52.8% year over year but came in 0.94% below the $1.94 billion consensus, a mild shortfall that did little to diminish the underlying momentum in AppLovin's advertising platform, which drove Adjusted EBITDA margin to 84% as net income climbed to $1.27 billion. The advertising engine's operating leverage remained the central story, with revenue growth continuing to outpace cost increases despite meaningful rises in R&D and cost of revenue. Free cash flow reached $863.32 million for the quarter, and the company repurchased $551.30 million in shares. Looking ahead, management guided Q3 2026 revenue to $2.06 billion to $2.09 billion, with Adjusted EBITDA margin expected to hold near 83%, signaling continued confidence in the platform's trajectory.
Key Takeaways
- • 53% year-over-year revenue growth
- • Adjusted EBITDA margin expansion to 84% from 81% year-over-year
- • Net income growth of 55% year-over-year
- • Strong operating leverage with revenue growth outpacing expense growth
APP Forward Guidance & Outlook
For Q3 2026, AppLovin guided revenue of $2,055 million to $2,085 million, Adjusted EBITDA of $1,710 million to $1,740 million, and Adjusted EBITDA margin of approximately 83%.
APP YoY Financials
Q2 2026 vs Q2 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
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $3.75 | $3.76 | +0.14% | $1.92B | -0.94% |
| Q1 26 BEAT | $3.46 | $3.56 | +2.96% | $1.84B | +3.78% |
| Q4 25 BEAT FY | $2.94 | $3.24 | +10.05% | $1.66B | +2.85% |
| 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% |