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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.
Part of a series: Alphabet earnings miss triggers market selloff
Prices from Live · updated 10:12 AM ET. Each tile opens the stock's chart and news.
New to this? Read: Trading around earnings
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
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.
Microsoft
Twenty-two firms raised their estimates for Microsoft, lifting the average target to $634. The stock currently trades at $531.01, with individual predictions ranging from $440 to $750.
Firmus IPO
Australia's corporate regulator is examining the collapsed $5 billion Firmus offering, which valued the AI data center firm at $30.6 billion. The review focuses on whether lead managers overstated investor demand prior to the October 9 failure.
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.
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