Google Search drops below 50% of Alphabet revenue
The gist
Alphabet's Search & other revenue hit $63.4 billion, or 49.7% of third-quarter revenue.
Search still grew 12%, but the milestone shifts what Alphabet's business depends on.
How it unfolded
- Oct 28, 2026Alphabet reported third-quarter 2026 results: revenue rose 25% to $127.6 billion, Google Cloud grew 103% to $30.7 billion, and Search & other brought in $63.4 billion, or 49.7% of revenue — the first quarter below half since Alphabet began reporting Search revenue separately.
- Oct 28, 2026Search and other revenue of around $63 billion missed estimates of about $65 billion, YouTube ads of around $11.2 billion missed forecasts of about $11.4 billion, and EPS fell to $2.12 from $2.87 a year earlier, weighed by a net loss of around $8.7 billion on equity securities.
- Oct 28, 2026Alphabet Class A shares closed at $324.89 and Class C at $321.89; in after-hours trading Class A fell 9.97% to $292.50 and Class C dropped 9.75% to $290.52.