GoKawiilAlphabet to post Q3 results Wednesday with AI spending under scrutiny
Alphabet reports third-quarter earnings after market close, with analysts polled by LSEG expecting EPS of $3.02 and revenue of $128.2 billion, up 25% year-over-year. Capital expenditures are projected to jump 130% to $55.2 billion, continuing a trend that has already pushed free cash flow negative for the first time, while cloud revenue is expected to grow 90% to $28.7 billion.
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The results could test investor patience with heavy AI infrastructure spending, as Alphabet shares have fallen in five of the last six sessions amid broader worries about AI-related costs. Strong cloud growth and rising TPU sales may support the case that the spending is paying off, but continued negative free cash flow could deepen concerns about returns on the buildout. Results from Microsoft and Amazon later in the week could further shape how Wall Street views the AI spending race.
- Analysts expect $128.2B revenue and $3.02 EPS, a 25% year-over-year revenue increase.
- Capex is projected to surge 130% to $55.2B, with full-year capex expected to top $200B.
- Cloud revenue is forecast to grow 90% to $28.7B as Alphabet competes with AWS and Azure.
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See Google Pixel 9 Pro on Amazon → Affiliate link — we may earn a commission on purchases, at no extra cost to you. Product picked by AI based on this article; it is not a tested recommendation.Source: cnbc.com — Samantha Subin, 2026-10-28
Published there as: “Alphabet set to report Q3 earnings after the bell as shaky AI trade looks for signs of strength”
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