Applovin Q2 Earnings: Revenue Miss, EPS Beat, Guidance Above Estimates And More

Author: Adam Eckert | August 07, 2024 05:02pm

Applovin Corp (NASDAQ:APP) shares are tumbling in Wednesday’s after-hours session not the heels of the company’s second-quarter financial results. Here’s what you need to know.

• Q2 Revenue: $1.08 billion, versus estimates of $1.082 billion

• Q2 EPS: 89 cents, versus estimates of 75 cents

Total revenue was up 44% on a year-over-year basis. Apps revenue grew 7% year-over-year to $369 million. Net cash from operating activities totaled $455 million and free cash flow came in at $446 million in the quarter.

Applovin ended the quarter with approximately $460 million in cash and cash equivalents.

“As we celebrate the first anniversary of our enhanced AXON technology, we are excited by its potential to continue to improve our position in mobile gaming and enable our expansion into new advertising categories. Our team’s dedication to innovation and excellence continues to propel us forward,” the company said in a letter to shareholders.

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Outlook: Applovin sees third-quarter revenue in the range of $1.115 billion to $1.135 billion versus estimates of $1.103 billion. The company expects third-quarter adjusted EBITDA to be in the range of $630 million to $650 million.

APP Price Action: Applovin shares were down 8.84% after hours at $61.25 at the time of publication, according to Benzinga Pro.

Photo: Tung Nguyen from Pixabay.

Posted In: APP