Alphabet Stock Plunges 10% as Search Ad Growth Slows Despite Rising AI Demand

Alphabet reported diluted earnings of $2.12 per share for the quarter ended September 30, down from $2.87 a year earlier. An $8.7 billion loss on equity securities reduced earnings by $0.55 per share. Excluding that loss, earnings per share were $2.67, below the analyst consensus estimate of $3.02. Revenue rose 25% year over year to $127.6 billion, below the $127.97 billion analyst consensus estimate compiled by FactSet. The slowdown contrasted with stronger search activity. Alphabet CEO Sundar Pichai said Google Search recorded its fastest year-over-year query growth in five years, supported by increasing use of AI-powered search features.

Source: The Crypto Basic