AppLovin (Nasdaq: APP) 1st Quarter Earnings: All Day Live Coverage

AppLovin (NASDAQ: APP) reports its Q1 2025 earnings today after the market closes. The mobile marketing platform enters earnings with considerable momentum, driven by its Axon ad engine and a lean, software-first operating model that powered one of tech’s biggest profit surges in 2024.

Analysts expect Q1 revenue of $1.06 billion and EPS of $0.74, per Capital IQ estimates. That would mark continued double-digit top-line growth and an earnings pace that nearly triples year-over-year. The story is no longer just about scale — it’s about margin dominance, driven by the combination of AI-targeted advertising and cost discipline across both software and games.

In Q4, APP reported record revenue of $1.06 billion and adjusted EBITDA of $648 million, with a 61% EBITDA margin — among the highest in ad tech. Management’s aggressive capital allocation strategy, including major buybacks and debt paydowns, has further fueled shareholder enthusiasm.

The company has shifted firmly away from being a games business into a high-margin marketing software provider, with its Axon 2 engine outperforming expectations across ROAS and spend categories. As attention turns to Q1, investors will focus on advertiser demand trends, growth in non-gaming verticals, and signs that Axon 2’s early dominance can be sustained.

This live blog will cover today’s results in depth, including the 5:00 PM ET earnings call, consensus modeling, executive commentary, and post-market stock movement.

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