AppLovin Q2 2026 earnings fallout and pivot

AppLovin reported Q2 revenue of $1.924B (+53% YoY) and EPS of $3.76, but a slight revenue miss, approximately 53% YTD stock decline, and analyst downgrades keep investor concerns elevated. Edgewater’s MAX ceiling and 8–9% modeled Q4 growth, Citi’s 13,105 e-commerce clients and 5.1% weekly expansion, AXON timing, Unity competition, gaming maturity, and e-commerce execution remain key tests; analyst figures are not company-reported benchmarks and the SEC probe is closed.