Alphabet Q3 营收近 1280 亿美元但承认 AI 搜索变现更低，股价大跌约 12%
Google admits AI search makes less money, but it's fixing that with more ads
Alphabet 发布 Q3 财报，7 至 9 月营收近 1280 亿美元、同比增长 25%，净利润超 260 亿美元，但公司承认 AI 搜索的收入低于自然搜索，且明年 AI 支出还将增加。财报后股价一度下跌约 13%，当时跌近 12%；每股收益 2.12 美元低于市场预期的 3.02 美元，Google Cloud 营收突破 300 亿美元、超出分析师预期约 10 亿美元。
同一件事，精选收录的是《Alphabet Q3 财报：年化收入达 5000 亿美元，Google Cloud 增长 103%》
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.
来源：Ars Technica：AI · arstechnica.com