AppLovin reports second quarter revenue below Wall Street estimates

AppLovin Corp (NASDAQ:APP) shares plunged more than 24% in after-hours trading on Wednesday after the mobile advertising and marketing platform reported second quarter revenue below Wall Street expectations, despite posting strong year-over-year growth and earnings in line with estimates. AppLovin reported revenue of $1.924 billion for the quarter ended June 30, up 53% from $1.259 billion a year earlier but below the $1.94 billion consensus estimate.