Alphabet reports Q3 2026 earnings after the market closes on October 28, with analysts averaging a $127.8 billion revenue estimate (up 25% year over year) and EPS of $3. Over the last 16 quarters, the stock has closed up seven times and down nine times after reports, with an average move of 5.2%; last quarter's revenue beat did not prevent a 7% drop the next day. In Q2, revenue rose 24% to $119.8 billion and EPS rose 294% to $9.11, but net income included about $99 billion of unrealized gains, mostly from investments in SpaceX and Anthropic, and adjusted EPS of $2.85 missed consensus by $0.04. The company raised its 2026 capex guidance to $195–205 billion and posted negative free cash flow for the first time since its 2004 IPO. Factors to watch include capex, 2027 guidance, free cash flow and Google Cloud growth; the author believes a decline is more likely than a surge after the report.
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GOOGLearningscloud computingcapital expenditure
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Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/26/2026 | 316.89 |
| Change that session | -1.04% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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