Alphabet (GOOGL) Stock Drops 9% Even as Google Cloud Revenue Doubles
Photo: CoinCentral
TLDR Alphabet (GOOGL) stock dropped 9% to $297.02 after hours following Q3 results that missed estimates. EPS came in at $2.12 versus the $3.02 consensus, while revenue rose 25% to $127.6 billion. Google Cloud revenue more than doubled, with operating profit of $11.1 billion beating forecasts. Free cash flow was negative for a second straight quarter, at $9.1 billion, as capex hit $51.4 billion. Alphabet expects about $200 billion in capex this year and says spending will rise in 2027. Alphabet (GOOGL) stock fell 9% to $297.02 in after-hours trading on Wednesday.
Source: CoinCentral
