AppLovin Corp.
(NASDAQ:APP) shares tumbled nearly 16% in after-hours trading following a second-quarter revenue miss, but management expects growth to reaccelerate in the third quarter after deploying delayed AI model upgrades.
The Q2 'Timing' Hiccup Management attributed the revenue miss largely to a delay in rolling out machine-learning improvements.
AppLovin reported second quarter revenue of $1.92 billion—a 53% year-over-year increase, but missing analyst estimates of $1.935 billion.
CEO Adam Foroughi took direct responsibility for the slight miss.
