Alphabet shares fall as investors weigh AI and earnings

AI · First reported 29 Oct, 12:03 · Updated 18:34

Alphabet reported higher quarterly revenue but missed earnings expectations, while Google said AI Mode earns less per query than its traditional search engine. Alphabet shares fell after the results; a separate headline also reported steep drops for Amazon and Intel.

Alphabet revenue rose 25% year over year to $127.6 billion, while earnings of $2.12 per share fell short of expectations of about $3.01.
Google said AI Mode currently earns less from queries than traditional search; search revenue growth was 12%, down from 17% in the previous quarter.
Quarterly capital expenditure reached $51.4 billion, while Google Cloud revenue more than doubled to $30.71 billion.

Summary written by Lux AI from 2 articles

Key facts

Alphabet quarterly revenue: $127.6 billion, up 25% year over year.
Earnings per share: $2.12, compared with expectations of around $3.01.
Quarterly capital expenditure: $51.4 billion, up from $24 billion a year earlier.
Google Cloud revenue: $30.71 billion, more than double and above the cited $29.57 billion analyst expectation.
Share declines reported: TechSpot says Alphabet fell more than 10% in after-hours trading; the Indian Express headline says over 12%.