Alphabet's Q3 Profit Misses Expectations, Shares Fall More Than 6% After Hours

October 29 — According to Bloomberg, Alphabet's third-quarter revenue and profit both fell short of market expectations, and the stock dropped more than 6% at one point in U.S. after-hours trading. According to Reuters, Alphabet's free cash flow for the quarter was -$9.07 billion, a record cash burn, while analysts had expected about -$36 million. Alphabet's quarterly revenue was $127.6 billion, net profit was $26.2 billion, and earnings per share were $2.12, about $0.9 below expectations; Google Cloud revenue more than doubled year over year to $30.7 billion, above the expected $29.6 billion.