Alphabet Inc.
Shortcut
3.00Normalized diluted EPS
+1.1% vs Street
Street
2.97Normalized diluted EPS
October 25 consensus snapshot
Real
2.67Provider normalized diluted EPS
Model download
Explore the assumptions and calculations behind the forecast.
Shortcut’s reasoning.
Revenue $128.9bn (+26.0% Y/Y, +0.9% vs consensus $127.8bn): Search & other +15.3% from paid clicks +9.5% x CPC +5.0% (Tinuiti Q3: clicks 13%->9%, CPC 1%->4%, spend steady); Cloud +97% Y/Y (20.5% Q/Q) on TPU system sales and $514bn backlog vs Street ~89-92% and buy-side 105-115%.
Operating income $44.7bn (34.7% margin, consensus EBIT $43.1bn): Services margin 43.5% (2Q26 41.8% included a $1.5bn legal charge), Cloud margin cut to 33% for guided third-party (SpaceX) capacity pressure, opex $33.4bn vs BofA $33.5bn; Alphabet-level costs derived at -$6.1bn.
Normalized EPS $3.00 = normalized NI to common $37.2bn / 12,393m diluted shares: 15.5% normalized tax rate (1Q26 16.4%, 2Q26 11.7%), $297m mandatory-convertible preferred dividend deducted, preferred excluded as antidilutive, full-quarter share count after the June equity raise.
On the record.
- Reporting period
- Q3 2026 (FQ3 2026 - Sep 2026)
- Reporting basis
- consensus data-normalized diluted EPS, excluding equity-securities fair-value effects
- Consensus snapshot
- October 25, 2026
- Model / effort
- Opus 5.5 · High effort
- Workbook
- Reviewed workbook
Record history
- Forecast generated
- Oct 26, 2026 at 4:57 AM PDT
- Reviewed revision completed
- Oct 26, 2026 at 4:57 AM PDT
- First published
- Oct 26, 2026 at 6:15 AM PDT
Result basis
Google Finance now explicitly displays Q3 2026 Normalized EPS USD2.67 in both its current data panel and Previous reports table. All six frozen historical normalized actuals match the displayed series. Scoring retains the accepted normalized diluted common-share convention, original forecast and frozen Street 2.97. Issuer GAAP diluted EPS USD2.12 remains separate. No equity-investment or tax bridge is constructed, and the newer consensus 3.02 is not substituted for frozen Street. Item-level provider normalization is unavailable and this actual is on revision watch.