Update
GOOGL Shares Plunge After Earnings Release
Alphabet (GOOGL) shares closed 1.34% higher at $324.89 on October 28, before dropping nearly 10% to approximately $292.50 in after-hours trading following its third-quarter earnings release. Revenue increased 25% year over year to $127.58 billion, up from $119.80 billion in the previous quarter, but fell short of Wall Street's forecast of $128.2 billion. Adjusted EPS of approximately $2.67 missed the $3.02 consensus estimate by nearly 12%. Google Cloud revenue grew 103% year over year to $30.71 billion, up from $11.12 billion in the previous quarter. Google Search and related revenue rose 12% to $63.35 billion, while YouTube advertising growth moderated to 9%. Management maintained its 2026 capital expenditure guidance of $195 billion to $205 billion and expects another significant increase in 2027.