Alphabet posted earnings per share of $2.67 against an estimate of $3.01, and revenue of $127.58 billion against an estimate of $127.97 billion, missing on both measures. Shares fell to $290.59 after hours, down 9.72% from the $321.89 close. The company's market value stood at $3.94 trillion.
Source: Trades in the regular session and after hours, against the close · as of October 28, 2026 at 6:45 PM ET · Five-minute closes. Extended-hours trading is thin; the price can move a long way before the open.
| Measure | Reported | Estimate | Result |
|---|---|---|---|
| Earnings per share | $2.67 | $3.01 | Missed |
| Revenue | $127.58 billion | $127.97 billion | Missed |
Source: Company earnings report and sell-side analyst consensus estimates · as of October 28, 2026 at 6:45 PM ET · Reported after the close on Wednesday, October 28, 2026.
Against the quarters before
Alphabet had topped estimates in each of the prior four quarters before this report. In the quarter reported July 22, 2026, EPS came in at $9.11 versus $2.87 expected on revenue of $119.80 billion. The April 29, 2026 report showed EPS of $5.11 versus $2.68 expected with revenue of $109.90 billion, while the February 4, 2026 quarter posted EPS of $2.82 against $2.63 expected on revenue of $113.83 billion. In the quarter reported October 29, 2025, EPS was $2.87 versus $2.30 expected on revenue of $102.35 billion. This quarter's miss breaks that streak.
Source: Company earnings reports and the consensus estimates at the time
| Reported | EPS | Estimate | Revenue | EPS result |
|---|---|---|---|---|
| July 22, 2026 | $9.11 | $2.87 | $119.80 billion | Beat |
| April 29, 2026 | $5.11 | $2.68 | $109.90 billion | Beat |
| February 4, 2026 | $2.82 | $2.63 | $113.83 billion | Beat |
| October 29, 2025 | $2.87 | $2.30 | $102.35 billion | Beat |
Source: Company earnings reports and the consensus estimates at the time
How the stock took it
Alphabet shares dropped 9.72% in after-hours trading to $290.59, down from the $321.89 close. The facts do not include specific guidance or management commentary tied to this report, and the sources provided do not credit any Alphabet executive with remarks on this quarter's results.
| Measure | Value |
|---|---|
| Last close | $321.89 |
| Price | $290.59 |
| Change | -9.72% |
Source: Extended-hours trades against the regular close · as of October 28, 2026 at 6:45 PM ET · Extended-hours trading is thin; the price can move a long way before the open.
Who it buys from and sells to
Company filings list NVIDIA as a supplier to Alphabet, while WPP, HCA Healthcare, Best Buy, Macquarie Bank, Swarovski, Banco BV and LG AI Research are named as customers. This spread across advertising, healthcare, retail, banking and AI research shows how broadly Alphabet's products and cloud services reach into other industries.
| Company | Role | Stock | Last move |
|---|---|---|---|
| NVIDIA | Supplier | NVDA | -1.17% |
| WPP | Customer | WPP | -0.81% |
| HCA Healthcare | Customer | HCA | +2.95% |
| Best Buy | Customer | BBY | -1.56% |
| Macquarie Bank | Customer | Not listed | — |
| Swarovski | Customer | Not listed | — |
| Banco BV | Customer | Not listed | — |
| LG AI Research | Customer | Not listed | — |
Source: Relationships named in company filings (Earnings call transcript); stock quotes · as of October 28, 2026 at 6:45 PM ET · Named in filings; a neighbour's move is not evidence of a link to this report.