Alphabet shares fell as much as 13.7% in regular trading on October 29, extending the selloff following its quarterly earnings report. The company’s Class A stock, trading under GOOGL, touched $280.36, compared with the previous close of $324.89, according to market data.
The stock later traded at $285.56, down 12.11%, at 10:21 a.m. Eastern. The Associated Press reported that Alphabet was on track for its worst trading day since listing. That comparison remains provisional: an intraday low does not establish a record closing decline.
The earnings release highlighted the scale of Alphabet’s investment spending. Third-quarter operating cash flow of $42.29 billion was outweighed by $51.36 billion in property and equipment purchases, leaving negative free cash flow of $9.07 billion, according to its earnings release.
The cash deficit came despite strong growth across the business. Quarterly revenue rose 25% to $127.58 billion, while Google Cloud revenue more than doubled, climbing 103% to $30.71 billion. The figures underscore the gap between expanding AI demand and the cash required to build supporting infrastructure.
The regular-session slide followed a roughly 10% after-hours decline detailed in our earnings coverage. Our earlier premarket report also examined contrasting reactions to major technology earnings, with cash generation emerging as a dividing line in investors’ assessment of AI spending.
