Alphabet Q3 财报：AI 搜索变现不及传统，股价大跌
Alphabet 公布 Q3 财报，营收虽同比增长 25%，但因 AI 搜索变现效率低于传统有机搜索且每股收益远低于预期，导致股价大幅下跌。尽管云业务表现超预期，市场仍担忧其高昂的 AI 投入与回报不成正比。
报道正文
Google parent Alphabet reported its Q3 financial results on Wednesday afternoon, showing a healthy rise in revenue for the months of July to September. But the company's stock price has taken a beating, marking one of the largest post-earnings drops in its history. It comes down to several troubling aspects of the new report, including an admission by the company that AI search isn't earning as much as organic search, and despite that, Google expects to spend even more on AI next year.
The company took in almost $128 billion in Q3 2026, earning more than $26 billion in net income. These may sound like good numbers, but financial markets are not impressed. While revenue is up 25 percent versus last year, net income is almost $9 billion lower. As of this story's publication, the stock price is down almost 12 percent, and it was down about 13 percent earlier in the day.
While revenue was up 25 percent year over year, analysts expected more. Google reported earnings per share of $2.12, but the consensus projection ahead of Wednesday was $3.02. Google's Cloud products actually beat expectations, crossing $30 billion in revenue. That's about a billion more than analyst guesses.