The mobile ad platform posted adjusted earnings of $3.56 a share on $1.84 billion in revenue, topping FactSet estimates of $3.49 and $1.77 billion.
Adjusted EBITDA rose 66% to $1.56 billion with an 85% margin, and AppLovin forecast second-quarter revenue of $1.92 billion to $1.95 billion and EBITDA of $1.62 billion to $1.65 billion.
It also repurchased 2.2 million Class A shares for $1 billion during the quarter. The stock was still down 30.4% this year amid software-sector selling, short-seller reports and an SEC probe.
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