Editor’s Note: The revenue consensus for Q3 has been corrected
Applovin Corp (NASDAQ:APP) reported second-quarter financial results Wednesday after the close. Here’s a rundown of the report.
Q2 Earnings: AppLovin reported second-quarter revenue of $1.26 billion, missing analyst estimates of $1.31 billion, according to Benzinga Pro. The company reported second-quarter earnings of $2.39 per share, beating analyst estimates of $2.04 per share.
Total revenue was up 77% year-over-year. Cash flow from operations was $772 million in the quarter and free cash flow came in at $768 million.
AppLovin repurchased $341 million of its common stock during the quarter. The company ended the quarter with approximately $1.19 billion in cash and cash equivalents.
Outlook: AppLovin expects third-quarter revenue to be in the range of $1.32 billion to $1.34 billion versus estimates of $1.314 billion. The company anticipates third-quarter adjusted EBITDA of $1.07 billion to $1.09 billion.
AppLovin’s management team will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET. A link to the earnings stream has been provided below.
APP Price Action: Applovin shares were down 6.28% in after-hours, trading at $366.03 at the time of publication on Wednesday, according to Benzinga Pro.
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