(Updated - May 11, 2022 4:39 PM EDT)

AppLovin (NASDAQ: APP) reported Q1 EPS of ($0.31), $0.23 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $625 million versus the consensus estimate of $823.37 million.

GUIDANCE:

AppLovin sees FY2022 revenue of $3.14-3.44 billion, versus the consensus of $3.69 billion.

• Increasing our Adjusted EBITDA target to a mid-point of $1.2 billion, equivalent to a mid-30%s margin, based on the continuing growth of our Software Platform business and expected operating improvements in Apps.

For earnings history and earnings-related data on AppLovin (APP) click here.