Key takeaways
- AppLovin traded at $358.37 at 14:52 UTC on November 5, up 31.9% from Wednesday's close of $271.75, per Yahoo Finance.
- The company reported Q3 revenue of $2.185 billion, up 55%, after the close on November 4, and CNBC says results and guidance beat estimates.
- Q4 revenue guidance is $2.365 billion to $2.395 billion, and the buyback authorization is now $3.6 billion.
AppLovin stock is up about 32% on Thursday, November 5, because the ad-tech company reported third-quarter results after the close on Wednesday that beat expectations and gave a fourth-quarter forecast above them, according to CNBC. Yahoo Finance showed AppLovin (APP) at $358.37 at 14:52 UTC on November 5, up 31.9% from Wednesday's close of $271.75.
The move is large even for a stock that had already risen before the report. It is also the opposite of the day's trend: chip and data center stocks were falling the same morning.
What AppLovin reported
AppLovin's earnings release, filed with the SEC on November 4, covers the quarter that ended September 30.
| Metric | Q3 2026 | Change from a year earlier |
|---|---|---|
| Revenue | $2,185M | up 55% |
| Net income | $1,439M | up 72% |
| Adjusted EBITDA | $1,842M | up 59% |
| Diluted EPS | $4.30 | n/a |
Adjusted EBITDA is profit before interest, taxes, depreciation and some other items, and AppLovin defines it. The company's margin on it was 84%. We went through the full numbers in our AppLovin earnings article.
Why the forecast mattered
AppLovin expects fourth-quarter revenue of $2,365 million to $2,395 million and adjusted EBITDA of $1,995 million to $2,025 million. CNBC says the guidance beat analysts' estimates, as did the quarter. The release does not say what drove revenue.
The release also shows the board adding $3.2 billion to its share buyback authorization, which now stands at $3.6 billion. In the quarter the company bought back about $1.4 billion of its own stock.
A stock that was already moving
Yahoo Finance data showed APP closing at $228.85 on November 2 and rising 10.7% on November 4, before the results came out. At $358.37 the stock is about 57% above the November 2 close, as of 14:52 UTC on November 5. Neither Yahoo nor CNBC explains the run-up before the report.
What this does not explain
CNBC attributes AppLovin's jump to its results and guidance, and we found no company statement that says otherwise. The same CNBC page says AI infrastructure stocks fell on worries about data center regulation, which makes AppLovin's rise stand out from that group. See our reports on why AMD stock fell and why CoreWeave stock fell.
What to watch
AppLovin files its quarterly report on Form 10-Q with the SEC, which carries more detail than the press release. Its fourth-quarter results will show whether the forecast of 84% to 85% adjusted EBITDA margin holds.
Sources
- AppLovin third quarter 2026 earnings release (8-K exhibit 99.1)SEC EDGAR
- Stock market today: live updatesCNBC
- APP quoteYahoo Finance