Alphabet fell about 9.6% to roughly $294 after third-quarter EPS of $2.12 missed the $3.01 consensus and free cash flow came in at negative $9.07 billion. Losses on equity investments, led by SpaceX, cut EPS by $0.55, while operating income rose 30% to $40.6 billion but still missed estimates. Search revenue grew 12% to $63.4 billion, about $1.5 billion short of estimates, even as query growth hit a five-year high; the article notes AI Mode queries currently earn less. Capex reached $51.4 billion, above $42.3 billion of operating cash flow, and Alphabet expects capex to rise significantly in 2027, which the article says supports Broadcom's chip sales and raises cash questions for Meta, whose third-quarter capex of $34.9 billion exceeded its $32.8 billion of operating cash flow.
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GOOGLearningsadvertisingfree cash flow
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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% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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