Alphabet GOOGL reported third-quarter 2026 earnings of $2.12 per share, missing the Zacks Consensus Estimate by 27.89% and declining 26% year over year. The decline primarily reflected unrealized losses on equity securities, including the company's investment in SpaceX. Consolidated revenues increased 25% year over year to $127.58 billion. Net revenues, excluding traffic acquisition costs (TAC), increased 27.1% year over year to $111.21 billion, missing the Zacks Consensus Estimate by 0.53%. Google Cloud's 103% revenue growth and $561 billion backlog highlighted strong enterprise AI demand. GOOGL's Services Benefit From Search Growth Google Services revenues increased 11% year over year to $96.3 billion. Segment operating income rose 17% to $39.
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