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The Marked Chart Wire · Business
HotAlphabet
Alphabet shares fell 11.4 percent after third-quarter revenue of $127.58 billion missed estimates of $128.22 billion. Search revenue also came in below expectations, and free cash flow was negative $9.07 billion.
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HotAlphabet Earnings
Alphabet shares fell 13 percent, wiping out about $500 billion in value, after quarterly free cash flow turned negative due to high AI costs. Revenue missed expectations, and the company plans an $85 billion equity raise.
HotAnalyst Ratings
Wall Street firms updated ratings after earnings, with Microsoft targets rising on Azure growth. Alphabet and Fortinet faced downgrades or target cuts due to search and product growth concerns.
HotAlphabet Earnings
Alphabet shares dropped about 10 percent after hours as search revenue grew 12 percent to $63 billion, missing expectations for the second consecutive quarter. Google Cloud revenue doubled to nearly $31 billion, but free cash flow fell to negative $9 billion.
HotAlphabet
Eighteen of 21 firms lowered their price targets for Alphabet following its latest earnings report. The average target is now $392, compared with a share price of $324.89.
HotAlphabet
Investors reacted negatively to Alphabet's quarterly results, which showed revenue below expectations. The miss is viewed as an early indicator that artificial intelligence is reducing demand for traditional search services.
HotAlphabet Earnings
Investors grew concerned that AI is impacting search revenue, despite a doubling of cloud income. The market reaction suggests the results may not be enough to appease Wall Street.
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