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Alphabet's third-quarter revenue misses estimates; shares fall after hours

Net income fell to $26.17 billion, and early after-hours reports put the share drop between about 9% and over 10%.

Updated Oct 29, 2026 · 02:24 UTC2 reports

The short version

  • Alphabet reported third-quarter revenue up 25% to $127.58 billion, short of analysts' average expectations.[ABC News]
  • Net income fell to $26.17 billion from $34.98 billion a year earlier.[ABC News]
  • Shares fell in early after-hours trading, with reports citing declines of about 9% and more than 10%.[ABC News · Associated Press]
  • CEO Sundar Pichai cited a half-trillion dollar revenue run rate, while CFO Anat Ashkenazi expects capital spending to rise significantly in 2027.[ABC News · Associated Press]

Key facts

  • Alphabet reported third-quarter revenue of $127.58 billion, up 25% year over year, which fell short of analysts' average expectations of $127.97 billion.[ABC News · Associated Press]
  • Net income for the July-September period was $26.17 billion, down from $34.98 billion in the same period a year earlier.[ABC News · Associated Press]
  • Pichai said Alphabet is on a half-trillion dollar revenue run rate and that the Gemini app has reached one billion users.[ABC News · Associated Press]
  • Ashkenazi said Alphabet continues to expect capital expenditures to increase significantly in 2027.[Associated Press]
  • Google Cloud segment revenue rose 103% year over year to $30.7 billion.[Associated Press]
  • ABC News reported that Alphabet's shares fell about 9% to $295.20 within an hour after the market closed.[ABC News]
  • The Associated Press reported that Alphabet's shares fell more than 10% to $289.95 in after-hours trading.[Associated Press]

What remains uncertain

  • Reported after-hours share declines differ, between about 9% and more than 10%, and the price levels cited do not match, so the final move is not established by these reports.[ABC News · Associated Press]
  • The expected significant increase in 2027 capital expenditures is a management expectation, and its magnitude is to be explained on the fourth-quarter call, according to AP reporting.[Associated Press]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.