Alphabet loses $477 billion in market value after earnings report

Google parent Alphabet lost $477 billion in market value in a single day, the largest decline in its history.

Report informs that Nasdaq trading data showed the company's market capitalization stood at $3.459 trillion as of 20:30 Baku time (GMT+4), down from $3.936 trillion the previous day.

Alphabet shares had fallen 12.07% to $283.04 apiece.

The decline followed the release of Google's third-quarter 2026 financial results. Shares had already dropped more than 10% before regular trading began.

According to Bloomberg, Google Chief Business Officer Philipp Schindler said the growing popularity of its AI Mode had negatively affected the company's financial performance.

Quarterly revenue totaled $111.2 billion, below analysts' expectations. YouTube advertising revenue also missed forecasts, coming in at $11.2 billion.