Google Q3 财报前瞻：Gemini 4 Argon 首 72 小时处理 25 万亿 token

Tõnis @TSinvests原推发布于 2026.10.28

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Google reports their Q3 finanicial results today. Here is a pre-earnings warmup for you: - Revenue is expected to come in at ~$128B, 25% YoY. EPS of around $3,02. - Q2 free cash flow was negative and this quarter will also be negative. How many negative cash flow quarters will we have? - Capex is estimated to be around $55,4B. Watch for capex raise during the call. Sundar himself mentioned that they are capacity strained. - All eyes will still be on GCP growth, margins and backlog. GCP revenue could come in at wild 100% growth, OP margins at 38% and RPO at $520B+ - Search and other growing at 15% but worth listening for commentary on agents and what does that means for search going forward. - Youtube watch time keeps going up and up. Youtube ads revenue could surprise people. - Subscriptions, prices have been going up lately but are they growing in general? - Could hear commentary on 2027 TPU business and how well that is doing. - Gemini 4 Argon processed nearly 25 trillion tokens in its first 72 hours, around 3x Gemini 3.0s launch. Watch for more Gemini 4 commentary - According to Similarweb, Gemini's share of website traffic has grown from 13,6% to 25% over the past year, although it's down slightly from 26.7% in April. - Implied move after the earnings is around 6% or ±19.07 per share - From technical perspective, Google has been under pressure lately as it has fallen roughly 10% from its October highs. Daily RSI is approaching oversold territory at 34. Watch for $316 area for support and $325-330 for resistance $GOOG $GOOGL