Alphabet's revenue jumped 25%, yet its profit per share fell
Alphabet's third quarter looks contradictory until you separate the operating business from a large swing in the value of its investments.
On October 28, 2026, after the market closed, Alphabet reported third-quarter results that seem to argue with themselves. According to the company's earnings release, revenue rose 25% to $127.6 billion, up from about $102.3 billion a year earlier. Yet diluted earnings per share came in at $2.12, down from $2.87 in the same quarter of 2025.
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