Google stock plunges 10% after Alphabet’s $127.6 billion quarter disappoints Wall Street

Google stock dropped more than 10% after Alphabet (GOOGL) delivered a $127.58 billion third quarter that fell short of Wall Street’s expectations. Revenue grew 25%, but spending on artificial intelligence left investors worried about cash. Alphabet’s AI bill keeps getting bigger Analysts surveyed by LSEG had expected $128.22 billion in sales and adjusted earnings of $3.02 per share. Alphabet reported just $2.67 in adjusted earnings per share. It was the company’s first double miss in almost four years. Net income fell to $26.17 billion, or $2.12 per share, from $34.98 billion, or $2.87 per share, a year ago. Operating income reached $40.58 billion, below the $43.19 billion forecast compiled by FactSet. But the number that really got investors talking was free cash flow.

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