Alphabet reported quarterly revenue of $127.6 billion in the third quarter of 2026, below analysts’ estimate of $128.2 billion. Search advertising revenue grew 12% to $63.4 billion, while net income fell 25% to $26.2 billion and adjusted earnings per share came in at $2.67, compared with the expected $3.02. Free cash flow turned negative, with an estimated outflow of $9.07 billion to $9.1 billion, following a $5.9 billion burn in the previous quarter. Google Cloud grew 103% to $30.7 billion, but Alphabet maintained its 2026 capital expenditure guidance of $195 billion to $205 billion and its shares fell about 10% after the release.
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