Sundar Pichai shares Google's Q3 numbers; shows strong growth in numbers for Search, Cloud and AI models; while Elon Musk says 'wow', Wall Street ‘not happy’

Google reported its third-quarter 2026 financial results on October 28. Sharing the Q3 numbers, Google CEO Sundar Pichai wrote on X (formerly Twitter): “Q3 is in the books! We’re now on a half-trillion annual revenue run rate, with Alphabet revenues growing at 25%”. This caught Elon Musk’s attention who replied to Sundar Pichai’s post on Google results with a ‘Wow’. But Wall Street seems to be ‘not happy’ with the Google results. Hours after the earnings result, shares of Alphabet's fell nearly 10% reportedly because the company missed profit projections and increased its AI spending past $50 billion in the third quarter. As stated in a Semafor report, the “resulting cash burn stoked investors' fears that hyperscalers aren't generating enough revenue to justify their debt-fueled infrastructure investments”.Google Q3 results in numbers that made Wall Street ‘unhappy’Google-parent Alphabet reported negative free cash flow of $9.07 billion during the third quarter. As stated in a CNBC report, this fell much further than the $2.70 billion expected by analysts.Alphabet’s capital expenditures totaled $51.36 billion in Q3, which again fell short of the $55.09 billion expected by analysts.The company’s net income fell to $26.17 billion, or $2.12 per share, down from $34.98 billion, or $2.87 per share in Q3, 2025.Alphabet’s operating income totaled $40.58 billion, missing a $43.19 billion forecast from FactSet.The company’s borrowing rose by 479% during the quarter, with long-term debt climbing to $125.1 billion, up from $21.6 billion a year earlier.Google Q3 results other highlightsAlphabet revenues grew 25% year-over-year which means it is now at a half-trillion-dollar annual run rate.Cloud revenue jumped by over 103% to $30.7 billion, surpassing the $28.7 billion expected by analysts.Alphabet’s search revenue grew 12% to $63.35 billion.Gemini app is now at one billion users and is the fastest-growing product in Google’s history.Google surpassed 150 million YouTube Music and Premium subscribers globally, including trials."On to our long-term bets. Waymo is on a great trajectory. We’ve now driven more than 300 million fully autonomous miles. Waymo now operates in 15 major U.S. cities and just recently opened up service to the public in San Antonio, San Diego, and Tampa, with planned expansions into Canada, Germany, Singapore, and Spain," Pichai said in his remarks.You use AI every day. Now get your AI Quotient. Take the AIQ test.