Alphabet Q3 FY2026: revenue up 25.0%, EPS of $2.12 misses on investment loss
Alphabet's Q3 FY2026 was an operating beat dressed up as an earnings miss. Revenue rose 25.0% to $127.58 billion and operating income rose 30.0%, but an $8.66 billion loss on equity securities dragged EPS to $2.12 against a $3.1081 consensus. Read the income statement top-down: the miss sits below the operating line, while the cash-flow statement shows the real bill — capital spending.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $2.12 came in 31.8% below the $3.1081 consensus and down from $2.87 a year ago. Almost all the damage sits below operating income: an $8.66 billion loss on equity securities cut net income by $6.7 billion and EPS by $0.55. Add that back and EPS is about $2.67, still roughly 14% short of consensus, so the quarter was not clean even after the one-off.
Revenue of $127.58 billion was up 25.0% from $102.35 billion a year earlier, and the pace is accelerating: Q1 FY2026 grew 21.8% and Q2 grew 24.2% on the same basis. No revenue consensus figure was supplied, so the only yardstick here is Alphabet's own trajectory. Growth is speeding up, not fading.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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