AppLovin (APP) shares dropped 16% on a Q2 revenue miss, but a resolved AI timing issue and strong Q3 guidance signal a powerful rebound.

AppLovin shares rose 3.34% after hours as investors positioned ahead of the company's second-quarter earnings report due Wednesday.

AppLovin Corp (APP) to release Q2 earnings report on Aug. 5. Analysts expect $3.75 EPS and $1.94B revenue.