Earnings Edge

Earnings Edge

Recaps

The Beginning of the End for Search: Recapping Google Actuals vs. Consensus

Consensus Benchmarking + Valuation Context

Consensus Media's avatar
Consensus Media
Jul 22, 2026
∙ Paid

By reading this article and continuing to use this website, you acknowledge and agree to our Disclaimer and Terms. Nothing on this site constitutes investment advice. Investing involves risk, including possible loss of principal.


Search missed by a hair, but it is the lone weak spot in Advertising revenues. Keeping with the negative theme, operating cash flow stunk, a $7B shortfall, driving free cash flow deep into the red:

This post is for paid subscribers

Already a paid subscriber? Sign in
© 2026 Consensus Media · Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture