Alphabet Inc.: Miss — EPS $2.12, Revenue $127.58B
GOOGAlphabet Inc.•Q3 2026•Oct 28, 2026, 4:02 PM EDT
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Earnings MissQ3 2026 · After-market
Did Alphabet Inc. (GOOG) beat earnings today?
No, Alphabet Inc. (GOOG) missed Wall Street analyst expectations for Q3 2026, reporting lower-than-expected EPS and lower-than-expected revenue.
Earnings Per Share-29.57% surprise
$2.12Actual
Expected: $3.01
vs. year ago -26.1%
Total Revenue-0.26% surprise
$127.58BActual
Expected: $127.91B
vs. year ago +25.0%
Released Oct 28 · 4:02 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $127.58B | $102.35B | +25.0% |
| Revenue detail — reported lines | |||
| └─Google Search & other | $63.35B | $56.57B | +12.0% |
| └─YouTube ads | $11.21B | $10.26B | +9.2% |
| └─Google Network | $7.46B | $7.35B | +1.4% |
| └─Google advertising | $82.01B | $74.18B | +10.6% |
| └─Google subscriptions, platforms, and devices | $14.29B | $12.87B | +11.0% |
| └─Google Services | $96.30B | $87.05B | +10.6% |
| └─Google Cloud | $30.71B | $15.16B | +103.0% |
| └─Other Bets | $372.00M | $344.00M | +8.1% |
| └─Hedging gains (losses) | $194.00M | $(207)M | - |
| Net Income | $26.47B | $34.98B | -24.3% |
| GAAP Basic EPS | $2.14 | $2.89 | -25.9% |
| GAAP Diluted EPS | $2.12 | $2.87 | -26.1% |
Business Highlights
- ➤Gemini 4 Argon and Carbon are now leading at the frontier.
- ➤First-party model APIs process nearly 32 billion tokens per minute.
- ➤The Gemini app reached one billion users.
- ➤Gemini became the fastest-growing product in Google’s history.
- ➤YouTube Music and Premium surpassed 150 million subscribers globally, including trials.
- ➤Demand for TPU systems spanned a wide range of customers.
- ➤Google Cloud demand was driven by enterprise AI infrastructure and AI solutions.
- ➤Issued 12 million Class A and 24 million Class C shares through the ATM program.
- ➤Issued senior unsecured notes for net proceeds of $28.7 billion.
- ➤Board declared a quarterly common-stock cash dividend of $0.22 per share.
Management Commentary
Sundar Pichai, CEO of Google and Alphabet
“We had a strong quarter and are now on a half-trillion dollar revenue run rate. Our deep full stack approach is driving momentum across the business, with Alphabet revenues growing 25% year-over year. Our AI investments are driving overall Search query growth, including commercial queries. In fact, our year-over-year query growth rate is the highest it’s been in the last five years. Google Cloud revenues grew 103%, powered by huge demand for our AI infrastructure and AI solutions. We’re also seeing strong demand for our TPU systems across a wide range of customers. Gemini 4 Argon and Carbon are now leading at the frontier. Overall, our first-party model APIs are now processing nearly 32 billion tokens per minute, more than four times what we processed a year ago. On top of that, the Gemini app has reached one billion users—making it the fastest-growing product in Google’s history—and we surpassed 150 million YouTube Music and Premium subscribers globally, including trials. We’re excited by the range of big opportunities ahead of us.”