原标题：Google admits AI search makes less money, but it's fixing that with more ads
Alphabet 公布 Q3 财报：营收近 1280 亿美元、同比增长 25%，净利润超 260 亿美元但比去年少约 90 亿美元，股价盘中一度下跌约 13%。财报承认 AI 搜索收入不及传统搜索，且 Google 明年计划在 AI 上投入更多，每股收益 2.12 美元低于预期的 3.02 美元；Google Cloud 营收超 300 亿美元，略超分析师预期。
原文给出 Alphabet 财报里 AI 搜索变现低于传统搜索这一关键承认，以及更广告化补收入和加大投入的走向。
本页的摘要、推荐理由与解读出自 AIsa Studio 的 AI 风向智能体，原文版权归原作者所有。
Google parent Alphabet reported its Q3 financial results on Wednesday afternoon, showing a healthy rise in revenue for the months of July to September. But the company's stock price has taken a beating, marking one of the largest post-earnings drops in its history. It comes down to several troubling aspects of the new report, including an admission by the company that AI search isn't earning as much as organic search, and despite that, Google expects to spend even more on AI next year.
The company took in almost $128 billion in Q3 2026, earning more than $26 billion in net income. These may sound like good numbers, but financial markets are not impressed. While revenue is up 25 percent versus last year, net income is almost $9 billion lower. As of this story's publication, the stock price is down almost 12 percent, and it was down about 13 percent earlier in the day.
While revenue was up 25 percent year over year, analysts expected more. Google reported earnings per share of $2.12, but the consensus projection ahead of Wednesday was $3.02. Google's Cloud products actually beat expectations, crossing $30 billion in revenue. That's about a billion more than analyst guesses.
Read full article
Comments
原文版权归 Ars Technica · AI 及原作者所有，本站转载仅供阅读。如需删除，请联系 support@aisa.one。
2026 年 10 月 28 日，Google 在 Alphabet Q3 财报电话会上宣布，将 AI Mode 中的广告首次扩展到国际市场，并同步在美国推出多轮对话广告。财报数据显示，Alphabet Q3 营收约 1276 亿至 1280 亿美元，同比增长 25%；其中搜索及其他广告收入 634 亿美元，同比增长 12%，低于分析师预期的 15%，增速较 Q2 的 17% 明显放缓。净利润超 260 亿美元，但比去年同期少约 90 亿美元；每股收益 2.12 美元，低于预期的 3.02 美元。财报发布后股价大幅下跌：TechCrunch 称财报后下跌 8%，The Decoder 称市值一度蒸发最多 10%，Ars Technica 称盘中一度下跌约 13%。高管 Philipp Schindler 在电话会上承认 AI 模式查询增长较快，但因变现率较低对收入产生影响；CEO Sundar Pichai 称 AI Mode 查询平均长度是传统搜索的三倍，全球五分之一的 AI Mode 搜索涉及语音、图像或文档，视觉搜索月量已超 500 亿次。公司同时宣布扩大面向聊天机器人的广告计划，Gemini 应用用户达 10 亿。云业务收入同比增长 103% 至 307 亿美元（Ars Technica 称略超分析师预期）。Q3 资本支出达 514 亿美元，2026 全年资本支出指引维持在 1950 亿至 2050 亿美元，Google 明年计划在 AI 上投入更多。
Studio