AppLovin (NASDAQ:APP) saw its shares skyrocket by more than 30% intra-day today after posting its Q2 results.

The company outperformed predictions with an EPS of $0.22, surpassing the Street estimate of $0.08. Despite a 3% year-over-year decline, revenue reached $750 million, exceeding the Street estimate of $723.97 million. Notably, the Software Platform division experienced substantial growth, surging 28% year-over-year to reach $406 million—a quarterly record. This rise was fueled by AI advancements integrated into AXON, which led to increased installations and higher revenue per installation compared to the previous quarter.

Looking ahead to Q3, AppLovin anticipates revenue in the $780-$800 million range, surpassing the Street estimate of $741.41 million.

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