Alphabet Stock Tumbles
Oct 29, 2026
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Alphabet reported third quarter revenue of $127.58 billion,
missing analyst estimates of $128.20 billion,
according to Benzinga Pro.
Earnings came in at $2.12 per share,
which may not compare to estimates of $3.02 per share.
Revenue increased 25% year over year,
with Google Search generating $63.35 billion
and YouTube advertising contributing $11.21 billion.
Google Cloud revenue more than doubled to $30.71 billion
from $15.16 billion a year earlier.
CEO Sundar Pichai said Alphabet's artificial intelligence investments
are driving search query growth.
Gemini models now process nearly 32 billion API tokens per minute,
while the Gemini app has surpassed 1 billion users.
Alphabet ended the quarter with $265.10 billion in cash,
cash equivalents, and marketable securities.
Shares fell by 8.08% in after-hours trading on Wednesday,
trading at $295.57, according to Benzinga Pro.
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