Alphabet Shares Tumble 8% After Q3 Earnings Miss on Investment Losses
Updated
Updated · Investor's Business Daily · Oct 28
Alphabet Shares Tumble 8% After Q3 Earnings Miss on Investment Losses
3 articles · Updated · Investor's Business Daily · Oct 28
Summary
Alphabet shares fell more than 8% in late trading after third-quarter earnings missed Wall Street targets, even as revenue roughly matched expectations.
Investment losses drove the profit miss, while search advertising revenue also missed estimates and slowed for a second straight quarter.
Cloud growth surged largely as expected, but that strength was not enough to offset weaker search ads and pressure on overall results.
Earlier figures showed Alphabet posted $2.12 a share on $127.58 billion in revenue, underscoring investor concern that heavy AI spending is not yet delivering sufficient returns.