News · AppLovin Corporation (APP) · Technology

AppLovin jumps after beat-and-raise quarterly results

Session of November 5, 2026 · Published November 6, 2026 · 4 min read

What happened

AppLovin (APP) rose 31.0% on November 5, 2026, because its third-quarter results topped Street estimates and it issued fourth-quarter revenue guidance above expectations. The company reported record third-quarter 2026 results, with revenue of $2.18 billion and earnings per share of $4.30, according to Market Watch and Benzinga. The move came as the S&P 500 fell 4.4% and the technology sector median fell 7.1% that day.

Closing price over the last 30 trading sessions. On November 5, 2026, APP closed at $356.10, up 31.0% on the day and 14.6% higher than 30 sessions earlier.

How big was the move

The stock rose 31.0% on the session and rose 39.7% over the last five sessions, with trading volume 5.1 times its 20-day average. The move was 6.4 times a typical daily move for this stock and was 38.1 percentage points better than the sector median on the day. AppLovin has a beta of 2.31, indicating the stock tends to move more than the market.

Each bar is one day's price change; the outlined bar is November 5, 2026. A typical daily move over the past year was 4.6%, so the latest move equals 6.7 times that. Moves outside the dashed lines (about 9.2%) are unusual.

The technical picture

After the rally, the stock closed 33.6% above its 20-day moving average and 22.0% above its 50-day moving average, while it remained 13.1% below its 200-day moving average. The 50-day average is below the 200-day average, a sign of a weak longer-term trend. The Relative Strength Index (14 days) was 72, above 70, a level often called overbought, and the shares were 51.7% below the 52-week high.

Closing price over the past year. APP ends the period 51.5% below its 52-week high, above its 50-day average ($291.78) and below its 200-day average ($409.96).

Shorter-term performance showed a mixed pattern. The stock rose 26.6% over one month and rose 2.7% over three months, yet it fell 41.5% over one year, leaving it 50.1 percentage points behind the S&P 500 for the period. Volatility was elevated, at 77% annualized over 60 days, which is higher than 64% of its own readings over five years.

Fundamentals and valuation

On a trailing four-quarter basis through September 30, 2026, AppLovin generated revenue of $7.61 billion, which grew 46.5% from a year earlier. Diluted earnings per share were $14.86, which rose 80.3% from a year earlier. Profitability metrics were strong: gross margin was 88.8% versus 84.6% a year earlier, operating margin was 77.8% versus 67.1% a year earlier, and free-cash-flow margin was 64.1%. Return on invested capital was 63.8% and the balance sheet showed net debt of 0.1 times EBITDA; share count over one year decreased by 1.8%.

Quarterly revenue by period end. The latest quarter brought $2.2B, 55.5% more than the same quarter a year earlier.

Investors priced the company at 24.0 times trailing earnings and 22.7 times expected earnings, with a free-cash-flow yield of 6.4%. Its price to trailing earnings is lower than 93% of its own readings over the past five years, with a five-year median of 54.8 times earnings. PromtFinance scores ranked the company 78 for Value (Positive), 85 for Growth (Strong) and 86 for Quality (Strong), while Momentum was 22 (Very weak) and Stability was 27 (Very weak).

The rally lifted market value to $76.76 billion at the close. That rise came despite a longer-term downtrend versus the 200-day average, underscoring how earnings surprises and raised guidance can override technical caution in the short term.

Earnings and analyst expectations

AppLovin released earnings on November 4, 2026, reporting earnings per share of $4.30 against $4.03 expected, 6.7% above estimates. Because earnings were released at this session, the results are the direct cause of the move. The company has one consecutive quarter beating estimates and an average surprise over the last four reports of 5.3% above estimates. Typical two-day reactions after recent reports saw the stock rise 1.3%.

Diluted earnings per share by quarter. The latest quarter shows $4.30, against $2.45 in the same quarter a year earlier.

Analysts' consensus price target was $490.00, 37.6% above the closing price, based on 27 analysts with ratings; 78% of those ratings were Buy or Strong Buy and the consensus rating was Buy. Several outlets reported intraday gains of around 16%–31% and analysts revised forecasts upward after the results.

At the same time, multiple law firms and plaintiff notices announced a securities class action filed against AppLovin and certain officers in the U.S. District Court for the Northern District of California, docket 26-cv-10584, alleging misstatements about the readiness and performance of AI models and related disclosures. Several firms are soliciting potential lead plaintiffs ahead of a November 16, 2026, deadline.

What to watch

Next report: February 10, 2027.
Last report: November 4, 2026: earnings per share of $4.30 against $4.03 expected, 6.7% above estimates.
Consensus price target: $490.00, 37.6% above the closing price.
Securities class action filed in the U.S. District Court for the Northern District of California (docket 26-cv-10584), with a November 16, 2026, deadline for potential lead plaintiffs.

Full APP analysis: scores, chart and financials →