Alphabet to report Q3 earnings amid mounting AI spending concerns

Alphabet reports third-quarter results after the bell Wednesday, with LSEG analysts expecting 25% revenue growth and 90% cloud growth to $28.7 billion. Capex is projected at $55.2 billion, up 130% year over year, while free cash flow is seen at negative $2.27 billion. The stock is down about 7% in October.

• Revenue expected to rise 25%, the fastest since 2021, per LSEG
• Google Cloud seen at $28.7 billion, up 90% year over year
• Quarterly capex forecast at $55.2 billion; full-year guidance $195–205 billion
• Free cash flow expected negative at $2.27 billion