Google Q3 2026: Cloud Revenue Soars 103%, But AI Spending Hits Profits

Google reported strong Q3 2026 growth, with Alphabet revenues up 25% to a half-trillion-dollar annual run rate, but shares fell nearly 10% as the company missed profit projections and increased AI spending past $50 billion. Alphabet posted negative free cash flow of $9.07 billion, far below the $2.70 billion expected, while capital expenditures totaled $51.36 billion. Net income dropped to $26.17 billion from $34.98 billion year-over-year, and long-term debt surged 479% to $125.1 billion. Cloud revenue jumped 103% to $30.7 billion, search grew 12%, and Gemini reached one billion users. Waymo has driven over 300 million autonomous miles across 15 U.S. cities, with expansions planned internationally.