Alphabet lost an estimated $390–396 billion in value after hours on October 28, 2026, even as Google Cloud revenue rose 103% to $30.709 billion in the third quarter and Cloud profit roughly tripled. Diluted EPS of $2.12 fell short of the roughly $3.01 consensus, as an $8.7 billion loss on equity securities cut EPS by $0.55, a non-cash revaluation. Capex rose to $51.355 billion from $23.953 billion, pushing free cash flow to negative $9.065 billion, though Alphabet kept its 2026 capex guidance of $195–205 billion. Google Cloud's backlog reached $561 billion, and about 55% of it is expected to convert to revenue within two years.
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GOOGLcloud computingearningsAI investment
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Related tickers and likely impact
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: high
| 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% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 725.59 |
| Change that session | +0.60% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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