Alphabet Revenue Hits $127.6 Billion as Gemini Reaches 1 Billion Monthly Users — Shares Fall

Alphabet Revenue Hits $127.6 Billion as Gemini Reaches 1 Billion Monthly Users — Shares Fall

Google’s parent company Alphabet reported third-quarter 2026 revenue of $127.6 billion, up 25 percent from a year earlier, and said its Gemini app has reached 1 billion monthly active users, making it the fastest-growing product in Google’s history. Google Cloud revenue jumped 103 percent year on year to $30.7 billion, and chief executive Sundar Pichai said the company’s full-stack AI strategy is driving its highest search query growth in nearly five years.

Despite the headline growth, shares fell about 9 to 10 percent in after-hours trading, as revenue and profit slightly missed Wall Street expectations and the company signalled capital spending will rise significantly next year to fund its AI build-out. Pichai said the company’s own model API now processes nearly 32 billion tokens a minute, up 40 percent from the previous quarter and more than four times the level of a year ago.

The earnings call also confirmed Google’s new frontier model, Gemini 4 Carbon, launched just two weeks after Gemini 4 Argon and ranked first on the Artificial Analysis Intelligence Index. For everyday users, the milestone that matters most is scale: a billion people a month now use Gemini, and Google is weaving its AI Overviews and AI Mode ever deeper into Search, with longer, more conversational queries becoming the norm. Investors, however, will be watching whether the heavy AI spending pays off in the quarters ahead.

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