Alphabet shares fall nearly 13% in historic $482bn loss
The nearly 13% slide after third-quarter results was Alphabet’s worst session since its 2004 listing, as search revenue missed forecasts and AI spending deepened cash-flow pressure.
Alphabet shares fell nearly 13% on Thursday after third-quarter results, its steepest drop since the 2004 listing.
Market value fell by about $482 billion—Alphabet’s largest one-day loss and the second-largest for a US-listed company.
Search revenue rose 12% to about $63 billion, below the roughly $65 billion Wall Street expected.
Free cash flow swung to an about $9 billion deficit amid heavy AI and data-centre spending.
Google Cloud revenue more than doubled to about $31 billion, and Gemini passed one billion users.