Alphabet stocks slide after earnings miss: 7 key takeaways

Alphabet shares fell more than 10% in extended trading after third-quarter revenue of $127.6 billion missed the $128.2 billion estimate and advertising revenue of about $82 billion was roughly $1.4 billion below expectations. Google Cloud revenue more than doubled to $30.7 billion, but negative free cash flow reached about $9.1 billion as AI infrastructure costs increased. Alphabet retained its 2026 capital expenditure forecast of $195 billion to $205 billion and indicated spending would rise significantly in 2027.