AppLovin Corp. reported second-quarter 2025 revenue of $1.26 billion, a 77 percent year-on-year rise, while net income surged 164 percent to about $820 million. Earnings per share came in at $2.39, ahead of analysts’ $1.95 consensus, and adjusted EBITDA almost doubled to $1.02 billion. For the current quarter, the mobile advertising platform forecasts revenue between $1.32 billion and $1.34 billion and adjusted EBITDA of $1.07 billion to $1.09 billion, implying a margin of roughly 81 percent. The company also disclosed the sale of its Apps division to Tripledot Studios, underscoring a pivot toward higher-margin software and advertising services ahead of the Oct. 1 rollout of its Axon self-serve ad manager. Shares initially fell more than 5 percent in after-hours trading but rebounded to gain roughly 13 percent on Thursday, lifting AppLovin’s market capitalization above $145 billion. Morgan Stanley raised its price target to $480 and Bank of America reiterated a $580 target, citing the stronger outlook and potential upside from the self-service expansion planned for the fourth quarter.