Alphabet shares fell about 13% on Thursday, October 29, wiping out $524 billion in market capitalization at their lowest point of the session—the second-largest single-day market cap loss for a U.S.-listed company, behind only Nvidia’s $593 billion drop on January 27, 2025.
The decline followed disappointing third-quarter results, which showed that Google Search advertising revenue grew just 12% to $63.35 billion, below analysts’ expectations of about $65 billion and sharply down from the previous quarter’s 17% growth. Free cash flow deteriorated sharply, falling to -$9.1 billion from +$24.5 billion a year earlier, as capital expenditures of $51.4 billion exceeded operating cash flow of $42.3 billion. Despite Google Cloud revenue rising 103% to $30.7 billion and Gemini surpassing one billion users, investors focused on the slowdown in search monetization and accelerating infrastructure spending.
$GOOGL
$NVDA
$HYPE
The decline followed disappointing third-quarter results, which showed that Google Search advertising revenue grew just 12% to $63.35 billion, below analysts’ expectations of about $65 billion and sharply down from the previous quarter’s 17% growth. Free cash flow deteriorated sharply, falling to -$9.1 billion from +$24.5 billion a year earlier, as capital expenditures of $51.4 billion exceeded operating cash flow of $42.3 billion. Despite Google Cloud revenue rising 103% to $30.7 billion and Gemini surpassing one billion users, investors focused on the slowdown in search monetization and accelerating infrastructure spending.
$GOOGL
$NVDA
$HYPE