Alphabet Q3 Earnings: AI Search Monetization Falls Short of Expectations, Sending Shares Plunging
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Alphabet released its Q3 2026 earnings report, admitting that revenue per query from AI Mode search is lower than traditional search. The report showed quarterly revenue of nearly $128 billion, up 25% year-over-year; net profit exceeded $26 billion, but declined by nearly $9 billion year-over-year; earnings per share were $2.12, below the market expectation of $3.02. After the earnings release, Alphabet shares fell sharply, dropping as much as about 13% intraday and nearly 12% as of publication. The event is currently at the stage of the market reaction following the earnings release, with no reports of a company response or further developments.
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Alphabet reported its Q3 2026 results, with revenue near $128 billion, up 25% year over year, and net profit above $26 billion but down nearly $9 billion year over year; earnings per share of $2.12 missed the expected $3.02, and the stock fell as much as about 13% intraday and was down nearly 12% at press time.
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