Alphabet's Free Cash Flow Was –$9.07B as Capex Hit $51.36B

Alphabet reported Q3 2026 on 28 Oct 2026. Google Cloud revenue was $30.7B, up 103% year on year, and Google Cloud operating income was $11.12B. Operating cash flow was $42.29B. Quarterly capex, purchases of property and equipment, was $51.36B, against $23.95B a year earlier. Free cash flow was –$9.07B. Revenue was $127.6B, up 25%. Diluted EPS was $2.12. A loss on equity securities of $8.7B reduced diluted EPS by $0.55. CNBC, citing LSEG, reported adjusted EPS of $2.67 against $3.02 expected and called it the first top- and bottom-line miss in nearly four years. Shares fell about 8% to 10% after hours. CFO Anat Ashkenazi said 2027 capex will "increase significantly."