Alphabet, Google's parent company, will announce its earnings report after the market closes on October 28. The revenue forecast for the third quarter of fiscal year 2026 is $127.833 billion, expected to grow 24.9% year-over-year; the net profit forecast is $37.334 billion, expected to increase by 6.73% year-over-year. Key points of interest include the growth rate of cloud business, the volume of TPU external supply, guidance for capital expenditures in 2027, and pressure on free cash flow. JPMorgan has raised its year-over-year growth forecast for cloud business revenue from 88% to 100%. Deutsche Bank believes that the growth in search revenue for the third quarter will be relatively healthy. HSBC Research predicts an operating profit margin of 44.5%, above market expectations, with GAAP EBITDA expected to grow 35% year-over-year.
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