AppLovin CEO says Q2 revenue shortfall was ‘timing’ issue as company guides Q3 revenue of $2.055 billion-$2.085 billion
AppLovin reported second-quarter revenue of $1.92 billion, up 53% year over year, but slightly below analyst estimates of $1.935 billion, weighing on the stock. The company forecast third-quarter revenue of $2.055 billion to $2.085 billion, roughly in line with or slightly above Wall Street expectations of $2.068 billion. Consumer advertising spending hit a record level, while APP shares are down 38.00% year-to-date and fell 16.95% in overnight trading, according to Benzinga.