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Alphabet (GOOGL) Stock Surges 5% on Strong Q3 Earnings and AI Spending Boost
Alphabet (GOOGL) Stock Surges 5% on Strong Q3 Earnings and AI Spending Boost
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Alphabet shares rallied sharply after the tech giant surpassed Wall Street's earnings expectations. Third-quarter EPS hit $2.87, beating estimates by 27%, while revenue climbed 16% to $102.3 billion. The stock initially jumped 5% before settling at $285, as analysts revised targets upward following the results.
Google's cloud division revealed aggressive AI infrastructure plans, raising its 2025 data center budget to $92 billion from $85 billion. The company's strong balance sheet—with $98 billion in liquid assets—positions it to outspend rivals in the AI arms race. Alphabet's recent $12.5 billion bond offering demonstrates its ability to leverage a virtually debt-free starting position.
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