AppLovin stock enters Q4 on strong growth and buyback support

AppLovin reported record third-quarter results on November 4 for the period ended September 30, 2026. According to the company's investor relations release, revenue rose 55 percent year over year to 2.18 billion US dollars, while net income increased 72 percent to 1.44 billion US dollars.

AppLovin stock traded at 355.85 euros on Lang & Schwarz at 13:08 CET on Friday, November 13, 2026. The quote is a current trading indication and is not paired here with a verified Xetra closing comparison.

Record Growth Meets Higher Expectations

The results showed that the company's advertising platform continued to expand while maintaining unusually high profitability. Adjusted EBITDA rose 59 percent to 1.84 billion US dollars, producing an 84 percent margin. Net income represented a 66 percent margin, compared with 59 percent in the year-earlier quarter.

AppLovin also generated 1.4 billion US dollars of free cash flow during the quarter. The company reported diluted earnings per share of 4.30 US dollars, up from 2.45 US dollars a year earlier. These figures strengthen the financial case for continued investment in the platform, but they also raise the performance threshold for the next reporting periods.

Fourth-Quarter Guidance Stays Strong

For the fourth quarter, AppLovin guided to revenue of 2.365 billion to 2.395 billion US dollars. Adjusted EBITDA guidance ranges from 1.995 billion to 2.025 billion US dollars, implying a margin of 84 percent to 85 percent.

The outlook points to continued growth after the record third quarter. For investors, the key issue is whether improvements in the company's advertising models can keep supporting customer demand and profitability as the business expands beyond its established mobile gaming base. The company did not provide forward-looking GAAP equivalents for its Adjusted EBITDA guidance because of uncertainty around reconciling items such as stock-based compensation.

Buybacks Add Capital-Return Support

AppLovin repurchased or withheld 4.1 million Class A shares during the third quarter at a total cost of 1.4 billion US dollars. The board then increased the current share repurchase authorization by 3.2 billion US dollars, bringing the total authorization to 3.6 billion US dollars at the end of October.

The authorization gives management additional flexibility to return capital, although the pace of future purchases will depend on market conditions, legal requirements and competing uses of cash. The company ended the quarter with 331 million Class A and Class B shares outstanding.

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