Alphabet Inc. Class C (GOOG) stock is down 12.86% at $280.50 as CNBC reported that Wall Street reacted sharply to an earnings miss that included softer than expected core revenue. Benzinga reported that a drop in the value of Alphabet's stake in Space Exploration Technologies Corp. (SpaceX) was the main driver behind the shortfall versus profit expectations.
| Measure | Value |
|---|---|
| Price | $280.50 |
| Change from the prior close | -12.86% |
| Prior close | $321.89 |
| Today's range | $278.30 – $286.43 |
| 52-week range | $271.41 – $404.47 |
| Market value | $3.43 trillion |
Source: Stock quote during the regular session · as of October 29, 2026 at 1:49 PM ET
What was reported
Benzinga reported that Alphabet recorded a sizable unrealized decline in the value of its investment holdings during the third quarter, largely tied to a falling share price at SpaceX, and said this accounted for the majority of a 90-cent gap versus earnings per share (EPS) expectations, with the effect possibly continuing if SpaceX shares keep falling.
CNBC reported that investors reacted negatively to the earnings report because revenue in Alphabet's search and other segment, while still growing year over year, once again came in under analyst forecasts, which CNBC described as an early sign that artificial intelligence tools are affecting traditional search activity.
RTTNews reported that Alphabet's other income and expense category moved from a profit a year earlier to a loss this quarter, which it attributed mainly to losses on equity securities, and separately noted that the company's board approved a new quarterly dividend payment to shareholders of record in early December, to be paid in mid-December.
Fortune reported that Alphabet's overall quarterly revenue grew sharply from a year earlier and came in close to analyst expectations compiled by S&P Global Visible Alpha, while earnings per share fell well below the prior year's level because of the investment-related loss tied to SpaceX; Fortune also noted that operating income rose from a year ago even as cash flow remained negative, and that Alphabet shares had already dropped in after-hours trading following the report.
Its suppliers and customers
Company filings list NVIDIA as a supplier to Alphabet, and WPP, HCA Healthcare, Best Buy, Macquarie Bank, Swarovski, Banco BV and LG AI Research as customers. Among those with a live quote today, NVIDIA is down slightly, while WPP, HCA Healthcare and Best Buy are each trading higher; Macquarie Bank, Swarovski, Banco BV and LG AI Research have no quote available. These moves are not connected to Alphabet's share price action today.
| Company | Role | Stock | Today |
|---|---|---|---|
| NVIDIA | Supplier | NVDA | -1.01% |
| WPP | Customer | WPP | +4.50% |
| HCA Healthcare | Customer | HCA | +2.49% |
| Best Buy | Customer | BBY | +2.36% |
| 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 29, 2026 at 1:49 PM ET · A supplier or customer moving the same day is not evidence that one move caused the other.