This year's worst-performing S&P 500 stock is finally seeing some major relief

What happened

AppLovin reported third-quarter revenue of $2.18 billion, up 55% from a year earlier and above forecasts, and earnings per share of $4.30, also above forecasts. It projected fourth-quarter revenue of up to $2.39 billion and authorized up to $3.2 billion in additional stock buybacks.

Confirmed

Global impact / market context

Revenue and earnings above forecasts, alongside a stronger revenue outlook, may improve expectations for AppLovin’s future cash generation. The additional buyback authorization could support demand for its shares if used, but the article does not establish how much will be repurchased or how investors will respond.

Analyst inference

The article says AppLovin shares had fallen 60% in 2026, making them the S&P 500’s worst performer, before rising 10% in regular Wednesday trading and nearly 20% in extended trading. That rebound followed results and guidance that exceeded analyst expectations.

Confirmed

What to watch

1. Watch whether AppLovin’s fourth-quarter revenue reaches its forecast of up to $2.39 billion; actual results will show whether recent growth is continuing at the expected pace. Analyst inference
2. Track how much of the additional buyback authorization AppLovin uses. Repurchasing shares reduces the number available to investors, but the company has not committed to spending the full amount. Analyst inference
3. Compare future revenue and earnings with analyst forecasts to see whether the latest outperformance persists and supports confidence in AppLovin’s business outlook. Analyst inference

Evidence

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