Applovin Corp (NASDAQ:APP) shares are moving higher as traders position ahead of the company’s first-quarter earnings report, scheduled for Wednesday after the market close.
- AppLovin shares are powering higher. Why is APP stock surging?
Consensus Setup And Market Positioning
Consensus estimates call for EPS of $3.40 on $1.77 billion in revenue, pointing to a 52.69% surge in earnings and a 19.63% revenue increase versus last year. The company previously guided first-quarter revenue between $1.745 and $1.775 billion and adjusted EBITDA to $1.465 through $1.495 billion, so expectations are aligned with the upper end of its own outlook.
Options markets are pricing a 12.26% implied move, representing roughly $19.3 billion in market‑cap exposure — a setup that tends to attract pre‑earnings positioning as traders brace for volatility.
Recent Performance And Sentiment
Despite four straight quarterly beats, Applovin has been the worst performer in its cohort, down 31.73% year‑to‑date. Sentiment has been weighed down by reports of an SEC probe into ad‑attribution practices and insider‑selling disclosures.
However, April showed the first signs of stabilization, with the stock rebounding 12%. That tentative recovery, combined with a high‑stakes earnings event and strong expected growth, has drawn dip‑buyers back into the name.
Context From Last Quarter
AppLovin ended 2025 with significant momentum. Fourth-quarter revenue grew 66% year‑over‑year to $1.658 billion, net income rose 84% and adjusted EBITDA jumped 82%. Full‑year 2025 revenue increased 70%, and adjusted EBITDA climbed 87%, underscoring the strength of the underlying business heading into 2026.
Those results set a high bar, and may also help explain why traders are willing to step in ahead of the first quarter.
APP Shares Are Rising
APP Price Action: AppLovin shares were up 3.58% at $476.49 at the time of publication on Monday, according to Benzinga Pro.
Image: CryptoFX/Shutterstock
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