Last year, AppLovin released the updated 2.0 version of its ad search engine called AXON, which helps put more targeted ads on the gaming apps the company owns and is also used by studios that license the technology. Software platform revenue in the third quarter increased 66% to $835 million, outpacing total growth of 39%.

Net income in the quarter soared 300%, lifting the company's profit margin to 36.3% from 12.6% in the course of a year.