Google’s out with its Q3 2026 earnings, chronicling the company’s financial performance over the past few months. It was a miss on revenue for the company that operates YouTube and the popular search engine, and a miss on the EPS (earnings per share) number.

Google Cloud's profit roughly tripled and revenue hit record highs, yet Alphabet shareholders watched hundreds of billions in paper value vanish after hours. One number buried in the earnings report explains why investors sold anyway.

Investors may be missing the forest for the trees.

Google parent Alphabet on Wednesday missed Wall Street profit and revenue expectations, and AI spending accelerated its cash burn, sending its shares down more than 10% in extended trading.

Google's AI search is pulling in more queries than ever, but the company's own executives are now admitting that growth in that format is costing them money, and the pressure is building on a business that funds everything else Alphabet does.

Learn more Google owner Alphabet recorded consolidated revenue of $127.58bn in the third quarter ended 30 September 2026, up 25% from a year earlier. The company said this was its 13th successive quarter of double-digit revenue growth.

It has no trouble reporting who won the 2024 election, however. Google blames its AI's suspiciously vague non-answers on 'a technical gap' that it’s 'working to fix.'

Alphabet shares are down about 10% in premarket trading after its revenue came in lighter than analysts expected. Such a move would be their biggest percentage drop since the early days of the Covid pandemic.

President Donald Trump spoke about renaming the Atlantic Ocean to the "American Ocean" at a rally in Mississippi on Monday.

Google spooked investors so badly that its stock hit a six-month low, after it revealed its AI search summaries were affecting ad revenue.