AppLovin Upgrades Buyback Authorization as 3Q Revenue, Profit Surge
By Elias Schisgall
AppLovin boosted its stock buyback authorization by $3.2 billion as the company posted a higher profit and surging revenue in the third quarter.
The advertising company on Wednesday reported a profit of $1.44 billion, or $4.30 a share, compared with a profit of $835.5 million, or $2.47 a share, a year earlier.
Revenue was $2.18 billion, up from $1.41 billion a year prior.
Analysts polled by FactSet were expecting earnings of $4.03 a share on $2.07 billion in revenue.
Shares surged 23% to $334.06 after-hours. The stock closed up 11% at $271.75, down more than 55% year-to-date.
For the current fourth quarter, the company projected revenue between $2.365 billion and $2.395 billion. Adjusted earnings before interest, taxes, depreciation, and amortization were forecast in a range of $1.995 billion to $2.025 billion.
Analysts currently expect $2.25 billion in revenue and adjusted Ebitda of $1.88 billion in the fourth quarter.
The company also said its board approved a $3.2 billion increase to the company's share repurchase authorization, bringing the total authorization to $3.6 billion as of the end of last month.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
November 04, 2026 16:55 ET (21:55 GMT)
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