Alphabet's cloud revenue more than doubles as free cash flow turns negative
These figures come from CNBC's report; Alphabet's own release could not be read in this run. Cloud revenue is not split into AI and non-AI work. CNBC's comparisons with analyst forecasts are estimates, not company figures, and this edition does not report a 2027 spending figure.
What was claimed?
CNBC reported on October 28, 2026 that Alphabet's third-quarter revenue was $127.58 billion and that Google Cloud revenue more than doubled to $30.7 billion. Capital expenditures were $51.36 billion and free cash flow was negative $9.07 billion. Net income fell to $26.17 billion from $34.98 billion a year earlier, partly because of losses on equity holdings. CNBC reported that Alphabet kept its 2026 capital spending forecast at $195 billion to $205 billion, that long-term debt rose to $125.1 billion from $21.6 billion a year earlier, and that the shares fell about 10%.
What does the evidence support?
Reported claim, not independently established
Alphabet is one of the largest spenders on AI data centres. This quarter its capital spending exceeded the cash its operations produced, while cloud revenue grew fast and borrowing rose sharply.
What are the limits?
These figures come from CNBC's report; Alphabet's own release could not be read in this run. Cloud revenue is not split into AI and non-AI work. CNBC's comparisons with analyst forecasts are estimates, not company figures, and this edition does not report a 2027 spending figure.
Claim or evidence date: 2026-10-28. Last verified: .
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