Alphabet shares fell 12.18% to $285.31 in the session after the company snapped a streak of 12 straight quarterly earnings beats, though most of the shortfall came from an $8.7 billion loss on equity securities rather than operations. GAAP EPS of $2.12 missed the $2.97 consensus, while revenue of $127.58 billion was roughly in line with estimates and rose 24.6%; search revenue grew 12% to $63.35 billion, below expectations. Google Cloud revenue grew 103%, well ahead of Azure’s 48% and AWS’s 37%, and the cloud backlog reached $561 billion, up 256%. Goldman Sachs kept its Buy rating and cut its price target to $385 from $435, arguing the market underrates how widely Alphabet can distribute AI through apps with one billion users.
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GOOGLearningsartificial intelligencecloud computing
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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 10/29/2026 | 283.75 |
| Change that session | -12.66% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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