Google Search Revenue Growth Slows Despite 5-Year High in Queries as AI Search Struggles to Match Traditi

Alphabet says Google Search is getting more use but not translating that fully into revenue as AI-powered experiences still lag in monetization. During the company’s third-quarter earnings call Wednesday, Chief Business Officer Philipp Schindler said Search revenue rose 12% year over year to $63 billion, yet growth slowed versus Q2. J.P. Morgan analyst Doug Anmuth pressed the mismatch between revenue and queries, which Pichai said have hit their fastest pace in five years. Schindler pointed to foreign exchange, retail ad headwinds from the EU ending its de minimis exemption, and normalized media spending after the FIFA Club World Cup—also adding AI Overviews affected returns in AI Mode.