AppLovin Corporation announced strong financial results for the third quarter ended September 30, 2024, reporting total revenue of $1.20 billion, a 39% increase year-over-year. Net income soared 300% year-over-year to $434 million, achieving a net margin of 36%, while Adjusted EBITDA grew 72% to $722 million, with a 60% Adjusted EBITDA margin.
The Software Platform segment, driven by the AXON engine, was a primary growth engine, with revenue increasing 66% year-over-year to $835 million and Software Platform Adjusted EBITDA expanding 79% to $653 million, achieving a 78% margin. The company noted that ongoing self-learning and technology enhancements to AXON allowed advertising partners to increase spending while meeting return on ad spend goals.
In a move to enhance shareholder value, AppLovin's board of directors increased the share repurchase authorization by an incremental $2.0 billion, bringing the total aggregate remaining authorization to $2.3 billion. The company generated $551 million in net cash from operating activities and $545 million in Free Cash Flow during the quarter, demonstrating strong liquidity. For the fourth quarter of 2024, AppLovin provided guidance for total revenue between $1.24 billion and $1.26 billion, and Adjusted EBITDA between $740 million and $760 million.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.