Global Research ab 7 August 2025 AppLovin Corp 2Q25 EPS Recap - Follow the Web-Based Bull Case Catalyst Path Key Takeaway We're increasing our FY26 EBITDA est to $6.18B (St $5.65B) to reflect 1) 2Q/3Q flow through of better-than-expected gaming-related trends, and 2) our conviction that a staggered rollout of the self serve web-based ad platform de-risks med-term web-based Ad Rev growth. By starting the self-serve roll-out in October with advertisers referred by existing advertisers and moving to GA in 1H26 ...