Alphabet, the parent company of Google, reported its Q3 financial results on October 29, 2026, showing a revenue increase of 25% year-over-year, totaling nearly $128 billion. However, the company's stock price dropped nearly 12% after the announcement, primarily due to concerns about lower earnings from AI search compared to traditional search. The reported earnings per share of $2.12 were below the expected $3.02, despite the Cloud division exceeding revenue expectations.
Key facts
- Alphabet reported Q3 2026 revenue of nearly $128 billion.
- Net income for Q3 2026 was over $26 billion.
- The stock price fell nearly 12% following the earnings report.
- Earnings per share were reported at $2.12, below the expected $3.02.
- Google Cloud exceeded expectations with over $30 billion in revenue.
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