Alphabet Posts Q3 Revenue and Earnings Miss as AI Spending Pushes Free Cash Flow Below Zero

Alphabet reported third-quarter revenue and adjusted earnings below Wall Street forecasts, while $51.4 billion in property and equipment purchases left free cash flow at negative $9.1 billion. Its shares fell more than 10% in after-hours trading as investors weighed rapid Cloud growth against slower Search advertising growth and heavier infrastructure spending. (Alphabet’s results, Associated Press)