AppLovin Stock Soars to Record High After Q3 Earnings Exceed Expectations

The mobile app marketing platform reported significant revenue growth and announced a new stock buyback program.

AppLovin reported third-quarter earnings of $1.25 per share on $1.2 billion in revenue, surpassing analysts' expectations.
The company's revenue increased by 39% year-over-year, driven by its AI-powered advertising tools.
AppLovin's stock surged over 42% in morning trading, reaching a record high of $240.68.
The company announced an additional $2 billion stock buyback, supplementing its existing program.
AppLovin is testing a new e-commerce solution to enhance its software platform and expand revenue streams.