AppLovin (APP) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and AppLovin published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• AppLovin sold its Apps business on June 30, 2025. Apps results are reported as discontinued operations, so revenue in both periods comes from its advertising business only.

Source: AppLovin Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How AppLovin splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• AppLovin's United States revenue was $1.1 billion in Q3 2026, up 60% from $688 million in Q3 2025, 50% of total revenue.
• AppLovin's Rest of the world revenue was $1.1 billion in Q3 2026, up 52% from $717 million in Q3 2025, 50% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

AppLovin gives its outlook as a table of low and high values, in millions of dollars, for revenue and Adjusted EBITDA only.

In its Q3 2026 release, AppLovin said:

“Revenue $2,365 $2,395”

“Adjusted EBITDA $1,995 $2,025”

“Adjusted EBITDA Margin 84% 85%”

Source: AppLovin Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the APP forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted net income per share, each as first reported in that quarter's release.

We do not hold a confirmed date for AppLovin's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

AppLovin's revenue was $2,185 million in Q3 2026, up 55% from $1,405 million a year earlier. AppLovin generates substantially all of its revenue from fees collected from advertisers spending on AppLovin Ads, and revenue from other services was not material. Revenue is the amount charged to advertisers less consideration paid or payable to publishers. (AppLovin Q3 2026 release, Nov 4, 2026; AppLovin Form 10-Q, Q3 2026, Nov 4, 2026)

AppLovin's 10-Q puts the $779.8 million increase down primarily to improved AppLovin Ads performance: net revenue per installation increased 55% and the volume of installations increased 2%. Over the first nine months of 2026, net revenue per installation rose 68% while installations fell 7%. (AppLovin Form 10-Q, Q3 2026, Nov 4, 2026)

AppLovin's revenue splits almost evenly by user location. United States revenue grew about 60% from a year earlier and revenue from the rest of the world about 52%, so the United States was slightly more than half of the quarter's total. (AppLovin Form 10-Q, Q3 2026, Nov 4, 2026)

AppLovin says its revenue is concentrated in the mobile app ecosystem, specifically mobile gaming, and a significant amount is derived through apps on a limited number of third-party platforms, such as the Apple App Store, the Google Play Store, and Meta. Its advertising solutions are AppLovin Ads, MAX, Adjust, and Wurl, and it is investing in its Axon AI recommendation system to expand into verticals outside of gaming, such as e-commerce and CTV. (AppLovin Form 10-Q, Q3 2026, Nov 4, 2026)

AppLovin reports GAAP EPS only. Diluted EPS was $4.30 in Q3 2026, against $2.45 a year earlier, on net income of $1,439 million, up 72%, a net margin of 66%. AppLovin's main non-GAAP measure is Adjusted EBITDA, $1,842 million in the quarter, which adds back interest, taxes, amortization and depreciation, stock-based compensation, and transaction-related and restructuring items. (AppLovin Q3 2026 release, Nov 4, 2026)

Below the operating line, AppLovin's other income (expense), net increased by $92.7 million from a year earlier, mainly from a net fair value remeasurement gain of $46.9 million on non-marketable equity securities and $15.9 million more interest income. The provision for income taxes rose by $119.6 million, an effective rate of about 17.5% of pre-tax income. (AppLovin Form 10-Q, Q3 2026, Nov 4, 2026)

AppLovin repurchased and withheld 4.1 million shares of Class A common stock in Q3 2026 for $1.4 billion and ended the quarter with 331 million Class A and Class B shares outstanding. Its board added $3.2 billion to the repurchase authorization, bringing it to $3.6 billion as of the end of October. Research and development expense rose 132%, mostly from higher stock-based compensation-related payroll costs. (AppLovin Q3 2026 release, Nov 4, 2026; AppLovin Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

AppLovin gives a one-quarter outlook in its release, for revenue and Adjusted EBITDA only. For Q4 2026 it guided revenue of $2,365 million to $2,395 million and Adjusted EBITDA of $1,995 million to $2,025 million, an Adjusted EBITDA margin of 84% to 85%. (AppLovin Q3 2026 release, Nov 4, 2026)

AppLovin does not give a GAAP outlook or reconcile its Adjusted EBITDA guidance to GAAP, citing the potential variability of reconciling items such as stock-based compensation expense. (AppLovin Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover AppLovin, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones AppLovin's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning APP is on is APP a buy or a sell?, what analysts expect next is on the APP forecast, and what the company does is on the AppLovin (APP) stock page.

Every number on this page can be traced to a document AppLovin published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.