Alphabet posts Q3 2026 revenue gain, but misses consensus and shares slide

Alphabet's third-quarter 2026 report showed consolidated revenue up about a quarter, with Google Cloud revenue more than doubling, yet headline revenue and per-share earnings both came in below analyst expectations. Search revenue growth slowed to 12% from 19% in March, and management flagged larger foreign-exchange headwinds for the fourth quarter. Early trading after the release pointed to a double-digit percentage drop in GOOGL shares, which would be among the sharpest single-day declines in several years if it held. Investors are weighing the strength of Cloud and TPU sales against slowing Search monetization and a planned capital spending run-rate of roughly $200 billion to $205 billion for the year.

1. Alphabet reported Q3 2026 consolidated revenue up 25% to $127.6 billion, per its 8-K earnings release dated October 28, 2026.
2. Google Services revenue rose 11% to $96.3 billion; Google Search & other grew 12%, with query growth at its highest rate in five years.
3. Google Cloud revenue increased 103% to $30.7 billion; TPU system sales were a meaningful contributor, per the release.
4. Reported EPS was $2.12 against a consensus cited by Benzinga of $3.02; revenue was below the roughly $128.20 billion estimate.
5. Benzinga reported GOOGL down about 10% in premarket and overnight trading on October 29, 2026; this is intraday data, not a settled close.
6. Management warned of greater foreign exchange headwinds in Q4, particularly for Search and YouTube advertising, and tougher year-over-year comparisons.
7. Other Bets revenue was $372 million, while its Q3 operating loss widened to $2.04 billion from $1.42 billion a year earlier, per Benzinga.