Alphabet Q3 Earnings Preview: 'Bears Have Technical Advantage,' Here's What Could Help Bulls

What happened

Alphabet will report third-quarter results Wednesday. Analysts expect revenue of $128.18 billion, up from $102.35 billion a year earlier, and earnings per share of $3.02, up from $2.87. Alphabet has beaten both estimates for 14 straight quarters.

Confirmed

Global impact / market context

Alphabet is a huge company, so its results can move the wider technology sector. Another beat could support the stock after a 21.6% drop from its high, while a miss could add selling pressure.

Analyst inference

Alphabet shares are down about 21.6% from their May high and up only 1.6% so far in 2026. Jay Woods of Freedom Capital Markets says the stock is making lower highs and showing bearish technical signals, which means the price trend looks weak.

Analyst inference

What to watch

1. Analysts expect revenue of $128.18 billion and earnings per share of $3.02. Alphabet has beaten both analyst estimates for 14 straight quarters, so investors will compare the actual results with these figures. Confirmed
2. Watch whether Alphabet's results and any company guidance on spending, costs and revenue can restart a rally in the shares, which have fallen about 21.6% from their all-time high. Proposed
3. Watch the technical picture Jay Woods describes: a series of lower highs and bearish signals. If the stock keeps making lower highs after earnings, that trend could weigh on investor positioning. Analyst inference

Evidence

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