Mobile Advertising Platform Doubles Q1 Profit... Initiates 1 Trillion Won Share Buyback

AppLovin Corp (APP), a U.S. mobile advertising and marketing platform company, reported first-quarter 2026 revenue of $1.84 billion—up 59% year-over-year—and net income of $1.21 billion, a 109% increase. Adjusted EBITDA reached $1.56 billion, representing an 85% margin, while both operating cash flow and free cash flow came in at approximately $1.3 billion. During the quarter, the company repurchased and retired about $1 billion of its own shares through buybacks and restricted-stock refunds.

For the second quarter, AppLovin forecasts revenue between $1.915 billion and $1.945 billion, and adjusted EBITDA of $1.615 billion to $1.645 billion. The board of directors also received restricted stock unit (RSU) awards.

Recently, Bank of America reaffirmed its Buy rating on AppLovin with a $705 price target, emphasizing the growth potential of its AI-based advertising solutions. Vanguard, one of the largest institutional investors, holds roughly 6.3% of the company’s shares. Last year, after a failed bid to acquire TikTok, AppLovin accelerated development of its own social network and commerce-linked advertising platform.

AppLovin provides mobile app and game developers with integrated software and ad-tech solutions for campaign execution, monetization, and user analytics. As global digital advertising and app ecosystems see intensifying competition around data- and AI-driven targeted ads, the company is expanding beyond its gaming roots into broader app and social-platform advertising to capture new growth opportunities.