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Alphabet Posts Quarterly Loss, Misses Revenue; Shares Drop 10%

By Drooid · Oct 29, 2026 · How we work

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Summary

Alphabet reported a quarterly loss and missed revenue forecasts, sending shares down over 10% in after-hours trading.
Third-quarter revenue reached $127.6 billion, up 25% YoY but below the $127.97 billion consensus.
Google Cloud revenue jumped 103% to $30.7 billion, offsetting weaker advertising performance.
Free cash flow turned negative $9.07 billion versus the $2.70 billion expected.

History

The 2008 financial crisis saw global stock indices fall about 30% by October, slashing advertising budgets and cutting Alphabet’s ad revenue by 12%. Today’s Q3 miss, with a 10% ad-sales dip and negative $9 billion free cash flow, revives the same macro-risk concerns that prompted IMF and ECB interventions after the crisis.

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The 2008 financial crisis saw global stock indices fall about 30% by October, slashing advertising budgets and cutting Alphabet’s ad revenue by 12%. Today’s Q3 miss, with a 10% ad-sales dip and negative $9 billion free cash flow, revives the same macro-risk concerns that prompted IMF and ECB interventions after the crisis.

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