Anthropic · Gemini · Google · Wall Street · SpaceX · YouTube · The Guardian Technology
Shares in the Google parent Alphabet fell double digits Wednesday evening into Thursday trading
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The company had reported lower-than-expected profit and a slowdown in its advertising business while it maintained big spending on AI.
Key facts
- Its latest forecast for capex spending is between $195bn to $205bn in spending for 2026
- YouTube, now the most-watched content provider on American TV screens, saw advertising revenue grow 9% to $11.2bn, down from 13% growth in the previous quarter
- Net profit slid 25% from a year earlier to $26.2bn in the July-to-September period, or $2.12 a share, well short of expectations by analysts surveyed by FactSet
- Alphabet’s “Other Bets” division, which includes the robotaxi company Waymo, posted revenue of $372m and an operating loss of $2bn
Summary
Shares in the Google parent Alphabet fell double digits Wednesday evening into Thursday trading, erasing hundreds of billions of dollars in stock market value from the $4tn tech giant. Net profit slid 25% from a year earlier to $26.2bn in the July-to-September period, or $2.12 a share, well short of expectations by analysts surveyed by FactSet. Alphabet booked an $8.7bn loss on its equity investments, which it attributed to its stake in SpaceX, the Elon Musk-led company where shares have struggled since going public in June. Revenue, however, rose 25% to an enormous $127.6bn.