AppLovin Reports Strong Revenue But Faces Scrutiny

AppLovin reported 66% year‑over‑year growth and nearly $1.7 billion in revenue in Q4 2025, with net income rising to $1.1 billion from $600 million a year earlier; shares fell about 20% after the results. On its earnings call, CEO Adam Foroughi defended the company’s nascent ecommerce advertising product, citing improving conversion rates, a 100‑advertiser generative‑AI creative pilot, and strong mobile gaming metrics. Investors remain cautious and asked for clearer ecommerce performance data.