Alphabet shares fell more than 11% on Thursday to near $287, one of the steepest single-day declines in the company's history, erasing $410 billion in market value. The drop followed the third-quarter report, which showed the first bottom-line miss against Wall Street consensus since the last quarter of 2022: earnings of $2.12 per share versus expectations near $3.02. An $8.2 billion unrealized loss on its stake in Space Exploration Technologies (SPCX) and a $5.2 billion cash payment for an EU antitrust fine weighed on the result. Google Cloud revenue more than doubled year over year and search queries posted their largest volume growth in five years, while capex reached $51.4 billion in the quarter, leaving a free cash flow burn of $9.1 billion. The article points to Google Cloud's backlog of $561 billion as evidence that AI demand is real, and says the core business remains a cash-generating engine.
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GOOGLearningscloud computingartificial intelligence
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Related tickers and likely impact
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/28/2026 | 325.61 |
| Change that session | +1.57% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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