Google parent Alphabet sees massive stock plunge
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Alphabet falls 10% in premarket, putting it on course for its biggest ever post-earnings drop
Alphabet reported a larger negative free cash flow than analysts had expected while maintaining its spending gudiance for the year.
Investors balked at Alphabet pouring $51.4 billion into capital expenditures, like buying data centers and ramping power capacity, in just three months.
Google Cloud's profit roughly tripled and revenue hit record highs, yet Alphabet shareholders watched hundreds of billions in paper value vanish after hours. One number buried in the earnings report explains why investors sold anyway.
Alphabet reported third-quarter earnings on Wednesday after the bell after the search giant's free cash flow dropped. Here's how the company did, compared with estimates from analysts polled by LSEG: Google's free cash flow fell to $9.07 billion, falling far further than the $2.70 billion expected by analysts.
Alphabet’s earnings miss and cash burn spooked investors. Explore why its stretched valuation keeps Seeking Alpha’s Quant Rating at Hold despite strong AI growth.
Alphabet Inc., Google's parent company, reported strong revenue growth in its third quarter, but it fell short of Wall Street expectations.
Alphabet topped Wall Street estimates for third-quarter revenue growth at its cloud computing unit on Wednesday, driven by sustained enterprise spending on AI infrastructure and expanding adoption of its GenAI tools.
Wall Street hammered Alphabet for an earnings miss that included weaker-than-expected revenue out of the company's core business.
