Applovin is trading at $356.63 (14.6% down) today after its Q3 revenue outlook slightly missed high investor expectations despite strong second-quarter results.
- The company reported Q2 revenue growth of 53% to $1.92 billion and EPS of $3.76, beating several analyst estimates.
- Management's Q3 revenue guidance of $2.055 billion to $2.085 billion fell short of the most optimistic AI-driven forecasts, triggering a sharp selloff.
- The decline reflects a broader market reset for high-growth AI and ad-tech stocks that have seen significant recent rallies.