Alphabet Inc. GOOGL
Net income doubled Revenue accelerating strategy: Strategic pivot
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Business Model#
What the company does and how it earns its money; written AI-editorially, exclusively from the company's original reports, without any assessment of our own.
Alphabet Inc. operates as a global technology holding company organized into three reporting segments: Google Services, Google Cloud, and Other Bets. Google Services encompasses digital advertising across Google Search, YouTube, and the Google Network; hardware sales; the Google Play Store; YouTube subscriptions; and other consumer-facing platforms, with advertising constituting the largest share of group revenue. Google Cloud provides businesses and public-sector organizations with infrastructure, data analytics, artificial intelligence, and enterprise applications on a subscription and consumption basis. Other Bets comprises earlier-stage technology ventures, including autonomous driving unit Waymo. Across all segments, Alphabet invests heavily in research, technical infrastructure, and AI development, with generative AI products and services increasingly central to both the Google Services and Google Cloud offerings.
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Current Status#
Summary of the most recent reporting period: core figures, drivers and management statements; written editorially from the current original report, every figure backed by a source number.
Alphabet reported consolidated revenue of $119,796 million in Q2 2026, a 24% year-over-year increase representing the 12th consecutive quarter of double-digit revenue growth, driven by 15% growth in Google Services and 82% growth in Google Cloud to $24.8 billion (25). Operating income increased 30% to $40,770 million with operating margin expanding 2 percentage points to 34% (25). Net income of $112,193 million and diluted EPS of $9.11 reflected $99.0 billion in net gains on equity securities from SpaceX and a private company (26). In June 2026, Alphabet raised $49.6 billion through equity offerings and $20.3 billion through senior unsecured notes to fund AI infrastructure, and the Gemini App reached 950 million monthly active users (25, 26).
Management commentary on the 2026-Q2 results (8-K-EX99.1, 2026-07-22):
„Our AI investments are redefining what's possible across every part of our business.“ – Sundar Pichai, CEO of Google and Alphabet 25
„These outstanding results show that our differentiated, full stack approach to AI is delivering real, measurable value for consumers, customers, and our partners globally.“ – Sundar Pichai, CEO of Google and Alphabet 25
Revenue · 2026-Q2119,796$m+24.2 % vs. 2025-Q2
Net profit · 2026-Q2112,193$m+297.9 % vs. 2025-Q2
EPS · 2026-Q29.11$+294.4 % vs. 2025-Q2
Revenue trend
Guidance
For FY2026, the company guides CapEx to 175 to 185 billion (initiated). 21.
ProfitabilityOperating income was $40,770 million in Q2 2026, with operating margin at 34% (25). Google Cloud operating income increased 230% to $8.8 billion compared to $2.8 billion in Q2 2025, driven by scale in AI infrastructure and enterprise solutions (26). Diluted EPS of $9.11 (+294%) included the effect of $99.0 billion in net unrealized gains on equity securities from SpaceX and a private company, with an effective tax rate of 19.1% in the quarter (25, 26).
LeverageAlphabet held cash of $55,911 million against net debt of $44,253 million as of Q2 2026 (125). In June 2026, the company raised $49.6 billion through common stock and mandatory convertible preferred stock offerings and $20.3 billion through senior unsecured notes, substantially expanding the balance sheet to fund AI infrastructure commitments (26). Operating cash flow for H1 2026 increased to $84.9 billion from $63.9 billion in H1 2025 (26).
Management viewGemini Enterprise deployment and Gemini 3.5 Flash Cyber launched during the quarter, expanding Alphabet's generative AI product portfolio (25). TPU system revenue recognition began in Q2 2026, reflecting Alphabet's investment in proprietary AI compute infrastructure (26). Capital expenditures for the six months ended June 30, 2026 totaled $80.6 billion for technical infrastructure, with a significant further increase in full-year 2026 capex guided relative to 2025 (26).
ChangeCapital expenditures of $44,924 million in Q2 2026 resulted in negative FCF of -$5,855 million, as investments in AI and technical infrastructure exceeded quarterly OCF of $39,069 million (125). The effective tax rate rose from 16.9% in Q2 2025 to 19.1% in Q2 2026, primarily due to higher pre-tax earnings from unrealized equity gains taxed at the statutory rate (26). The TAC rate declined from 20.6% to 19.8%, driven by a revenue mix shift from Google Network to Google Search properties (26).
Risks (current)Significant capex commitments for AI infrastructure and compute scaling may not yield adequate returns, and intense competition in the device and AI markets presents ongoing challenges (26). The PriceRunner patent case resulted in a $2.1 billion accrual in Q2 2026 comprising $1.5 billion in principal damages and $581 million in interest and costs; separately, the European Commission upheld its 2018 Android-related decision with a $5.2 billion fine paid in July 2026 (26). Restrictions on cross-border data transfers and increased risk of inadvertent data disclosure through AI utilization represent additional regulatory and cyber exposure (26).
New this reporting periodAlphabet completed the acquisition of Wiz for $29.5 billion in March 2026, consolidating the cybersecurity platform into the Google Cloud segment (26). The acquisition of Intersect for $5.9 billion was also completed in March 2026 (26). Alphabet entered into a definitive agreement to contribute its GFiber subsidiary, with expected proceeds of $1.5 billion in cash and a $2.0 billion note receivable upon closing (26).
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Price & Chart#
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Share-Price Drivers#
Factors the company itself names as material for its business development (IR-based); reproduced neutrally, no price forecast and no assessment of our own.
AI-led acceleration across Google Cloud and Search, funded by a step-up in TPU/AI infrastructure spending
Group revenue rose from 90,234 (2025-Q1) to 119,796 (2026-Q2) with operating income climbing from 30,606 to 40,770, while quarterly capex expanded to 44,924 (2026-Q2) to build out AI infrastructure 125; change flags mark growth as accelerating and profitability improving.
Group revenue rose from 90,234 (2025-Q1) to 119,796 (2026-Q2) with operating income climbing from 30,606 to 40,770, while quarterly capex expanded to 44,924 (2026-Q2) to build out AI infrastructure 125; change flags mark growth as accelerating and profitability improving.
Google Cloud (AI infrastructure and enterprise AI)
Cloud revenue of 20,028 in 2026-Q1 alongside Cloud AI infrastructure expansion and Gemini Enterprise deployment 24 19 25.
Cloud revenue of 20,028 in 2026-Q1 alongside Cloud AI infrastructure expansion and Gemini Enterprise deployment 24 19 25.
Google Services / Search with AI Overviews and AI Mode
Google Services remains the dominant segment at 89,637 in 2026-Q1, with AI Overviews and AI Mode rolled out globally in Search 24 19 17.
Google Services remains the dominant segment at 89,637 in 2026-Q1, with AI Overviews and AI Mode rolled out globally in Search 24 19 17.
Gemini AI model family adoption
Gemini App reached 650 million monthly active users, with Gemini 3 and Gemini 3.5 Flash launched 19 21 25.
Gemini App reached 650 million monthly active users, with Gemini 3 and Gemini 3.5 Flash launched 19 21 25.
Custom TPU / Ironwood infrastructure and capex
Ironwood seventh-generation TPU launch, TPU hardware supply agreements and TPU system revenue recognition, with capex rising to 44,924 in 2026-Q2 turning quarterly FCF to -5,855 22 24 26 125.
Ironwood seventh-generation TPU launch, TPU hardware supply agreements and TPU system revenue recognition, with capex rising to 44,924 in 2026-Q2 turning quarterly FCF to -5,855 22 24 26 125.
M&A and shareholder returns
Wiz and Intersect acquisitions completed, plus a dividend increase and senior unsecured notes issuance 26 23.
Wiz and Intersect acquisitions completed, plus a dividend increase and senior unsecured notes issuance 26 23.
Sector trend: Demand for AI compute and cloud services is accelerating, with revenue and operating income trending higher and profitability improving per the latest change flags 125. This is accompanied by sharply rising infrastructure capex, which is compressing near-term free cash flow while utilisation of AI capacity expands 125 22.
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Event Timeline#
This timeline collects the material events from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements. Events are grouped by quarter (most recent first); the grey tag before each event names the event type, the date is the publication date of the source. Management quotes open the quarter block as direct quotes. Per quarter we show the three most defining events; more can be expanded per quarter, older years are collapsed. Every event carries its source as a superscript, clickable number.
Overview: one dot per event · click jumps to the period
2026 · 7 events
2026-Q2 · Apr – Jun 2026
„Our AI investments are redefining what's possible across every part of our business.“ – Sundar Pichai, CEO of Google and Alphabet 25
earnings 2026-07-23
Net income available to common stockholders increased 298% to $112.1 billion, primarily due to $99.0 billion in net unrealized gains on equity securities from SpaceX and a private company 26
Net income available to common stockholders increased 298% to $112.1 billion, primarily due to $99.0 billion in net unrealized gains on equity securities from SpaceX and a private company 26
Strategic pivot 2026-07-23
Capital expenditures for H1 2026 reached $80.6 billion primarily for technical infrastructure; Alphabet raised $49.6 billion through equity offerings and $20.3 billion in senior unsecured notes in June 2026 to fund AI infrastructure scaling 26
Capital expenditures for H1 2026 reached $80.6 billion primarily for technical infrastructure; Alphabet raised $49.6 billion through equity offerings and $20.3 billion in senior unsecured notes in June 2026 to fund AI infrastructure scaling 26
Net income doubled 2026-07-23
Net income more than doubled YoY (28,196.0 to 112,193.0 USDm, +298%). 125
Net income more than doubled YoY (28,196.0 to 112,193.0 USDm, +298%). 125
2026-Q1 · Jan – Mar 2026
„These outstanding results are built on our differentiated, full stack approach. Our first-party models, like Gemini, are now processing more than 16 billion tokens per minute via direct API use by our customers, up 60% from last quarter. It's really exciting to see how our AI investments are delivering value for our users, customers and business.“ – Sundar Pichai, Chief Executive Officer of Alphabet and Google 23
Acquisition 2026-04-30
Completed acquisition of Wiz for $29.5 billion and Intersect for $5.9 billion in March 2026, both integrated into Google Cloud segment 24
Completed acquisition of Wiz for $29.5 billion and Intersect for $5.9 billion in March 2026, both integrated into Google Cloud segment 24
Revenue accelerating 2026-04-29
Consolidated revenues grew 22% year-over-year to $109.9 billion, the 11th consecutive quarter of double-digit growth; Google Cloud revenues grew 63% to $20.0 billion with backlog nearly doubling quarter-on-quarter to over $460 billion 23
Consolidated revenues grew 22% year-over-year to $109.9 billion, the 11th consecutive quarter of double-digit growth; Google Cloud revenues grew 63% to $20.0 billion with backlog nearly doubling quarter-on-quarter to over $460 billion 23
Margin expanding 2026-04-29
Operating income increased 30% to $39.7 billion and operating margin expanded 2 percentage points to 36.1% 23
Operating income increased 30% to $39.7 billion and operating margin expanded 2 percentage points to 36.1% 23
2025 · 14 events
2025-Q4 · Oct – Dec 2025
„It was a tremendous quarter for Alphabet and annual revenues exceeded $400 billion for the first time. The launch of Gemini 3 was a major milestone and we have great momentum. Our first party models, like Gemini, now process over 10 billion tokens per minute via direct API use by our customers, and the Gemini App has grown to over 750 million monthly active users. Search saw more usage than ever before, with AI continuing to drive an expansionary moment. We continue to drive strong growth across the business. YouTube's annual revenues surpassed $60 billion across ads and subscriptions; we now have over 325 million paid subscriptions across consumer services, led by strong adoption for Google One and YouTube Premium. And Google Cloud ended 2025 at an annual run rate of over $70 billion, representing a wide breadth of customers, driven by demand for AI products. We're seeing our AI investments and infrastructure drive revenue and growth across the board. To meet customer demand and capitalize on the growing opportunities we have ahead of us, our 2026 CapEx investments are anticipated to be in the range of $175 to $185 billion.“ – Sundar Pichai, Chief Executive Officer of Alphabet and Google 21
Revenue accelerating 2026-02-04
Q4 revenues grew 18% to $113.8 billion; Google Cloud revenues grew 48% to $17.7 billion; annual revenues exceeded $400 billion for the first time 21
Q4 revenues grew 18% to $113.8 billion; Google Cloud revenues grew 48% to $17.7 billion; annual revenues exceeded $400 billion for the first time 21
Guidance initiated 2026-02-04
2026 capital expenditure investments anticipated in the range of $175 to $185 billion to meet customer demand and capitalize on AI opportunities 21
2026 capital expenditure investments anticipated in the range of $175 to $185 billion to meet customer demand and capitalize on AI opportunities 21
New market 2026-02-04
Waymo investment round of $16.0 billion announced in February 2026 with significant majority funded by Alphabet, expanding autonomous ride-hailing services to multiple cities and international markets 21
Waymo investment round of $16.0 billion announced in February 2026 with significant majority funded by Alphabet, expanding autonomous ride-hailing services to multiple cities and international markets 21
2025-Q3 · Jul – Sep 2025
„We are investing to meet customer demand and capitalize on the growing opportunities across the company.“ – Sundar Pichai, CEO of Alphabet and Google 19
Revenue accelerating 2025-10-29
Q3 revenues grew 16% to $102.3 billion; Google Cloud revenues grew 34% to $15.2 billion with contracted backlog reaching $155 billion 19
Q3 revenues grew 16% to $102.3 billion; Google Cloud revenues grew 34% to $15.2 billion with contracted backlog reaching $155 billion 19
Margin compressing 2025-10-29
Operating margin declined to 30.5% due to the accrual of a $3.5 billion European Commission antitrust fine; excluding that fine, operating margin was 33.9% 19
Operating margin declined to 30.5% due to the accrual of a $3.5 billion European Commission antitrust fine; excluding that fine, operating margin was 33.9% 19
Guidance raised 2025-10-29
2025 capital expenditure guidance raised to the $91 billion to $93 billion range 19
2025 capital expenditure guidance raised to the $91 billion to $93 billion range 19
2025-Q2 · Apr – Jun 2025
„We had a standout quarter, with robust growth across the company. We are leading at the frontier of AI and shipping at an incredible pace. AI is positively impacting every part of the business, driving strong momentum. Search delivered double-digit revenue growth, and our new features, like AI Overviews and AI Mode, are performing well. We continue to see strong performance in YouTube as well as subscriptions offerings. And Cloud had strong growth in revenues, backlog and profitability. Its annual revenue run-rate is now more than $50 billion. With this strong and growing demand for our Cloud products and services, we are increasing our investment in capital expenditures in 2025 to approximately $85 billion and are excited by the opportunity ahead.“ – Sundar Pichai, CEO 17
Revenue accelerating 2025-07-23
Q2 revenues grew 14% to $96.4 billion; Google Cloud revenues grew 32% to $13.6 billion with annual revenue run-rate exceeding $50 billion 17
Q2 revenues grew 14% to $96.4 billion; Google Cloud revenues grew 32% to $13.6 billion with annual revenue run-rate exceeding $50 billion 17
Margin compressing 2025-07-23
Q2 operating margin held at 32%, with a $1.4 billion legal settlement charge in general and administrative expenses partially offsetting revenue leverage 17 18
Q2 operating margin held at 32%, with a $1.4 billion legal settlement charge in general and administrative expenses partially offsetting revenue leverage 17 18
Net cash to net debt 2025-07-23
Net debt position flipped (-11,378.0 to +3,571.0 USDm vs 2025-Q1). 123
Net debt position flipped (-11,378.0 to +3,571.0 USDm vs 2025-Q1). 123
2025-Q1 · Jan – Mar 2025
„We're pleased with our strong Q1 results, which reflect healthy growth and momentum across the business. Underpinning this growth is our unique full stack approach to AI. This quarter was super exciting as we rolled out Gemini 2.5, our most intelligent AI model, which is achieving breakthroughs in performance and is an extraordinary foundation for our future innovation. Search saw continued strong growth, boosted by the engagement we're seeing with features like AI Overviews, which now has 1.5 billion users per month. Driven by YouTube and Google One, we surpassed 270 million paid subscriptions. And Cloud grew rapidly with significant demand for our solutions.“ – Sundar Pichai, CEO 15
Margin expanding 2025-04-25
Operating margin expanded 200 basis points to 34%, with operating income up 20% to $30.6 billion 16
Operating margin expanded 200 basis points to 34%, with operating income up 20% to $30.6 billion 16
Acquisition 2025-04-25
Definitive agreement signed in March 2025 to acquire Wiz cloud security platform for $32.0 billion in an all-cash transaction, expected to close in 2026 16
Definitive agreement signed in March 2025 to acquire Wiz cloud security platform for $32.0 billion in an all-cash transaction, expected to close in 2026 16
revenue 2025-04-24
Q1 revenues increased 12% to $90.2 billion; Google Cloud revenues grew 28% to $12.3 billion 15
Q1 revenues increased 12% to $90.2 billion; Google Cloud revenues grew 28% to $12.3 billion 15
Strategic pivot 2025-02-05
Gemini 2.0 launched as most capable multimodal model, integrated across all seven two-billion-user products; AI Overviews reached more than one billion users in over 100 countries 14
Gemini 2.0 launched as most capable multimodal model, integrated across all seven two-billion-user products; AI Overviews reached more than one billion users in over 100 countries 14
2024 · 15 events
2024-Q4 · Oct – Dec 2024
„Q4 was a strong quarter driven by our leadership in AI and momentum across the business. We are building, testing, and launching products and models faster than ever, and making significant progress in compute and driving efficiencies. In Search, advances like AI Overviews and Circle to Search are increasing user engagement. Our AI-powered Google Cloud portfolio is seeing stronger customer demand, and YouTube continues to be the leader in streaming watchtime and podcasts. Together, Cloud and YouTube exited 2024 at an annual revenue run rate of $110 billion. Our results show the power of our differentiated full-stack approach to AI innovation and the continued strength of our core businesses. We are confident about the opportunities ahead, and to accelerate our progress, we expect to invest approximately $75 billion in capital expenditures in 2025.“ – Sundar Pichai, CEO 13
earnings 2025-02-04
Full-year net income $100.1B, diluted EPS $8.04 vs $5.80 in 2023; Q4 net income +28% to $26.5B 13
Full-year net income $100.1B, diluted EPS $8.04 vs $5.80 in 2023; Q4 net income +28% to $26.5B 13
revenue 2025-02-04
Consolidated revenues +12% to $96.5B, decelerating from +15% in Q3; Google Services +10% to $84.1B, Google Cloud +30% to $12.0B 13
Consolidated revenues +12% to $96.5B, decelerating from +15% in Q3; Google Services +10% to $84.1B, Google Cloud +30% to $12.0B 13
Margin expanding 2025-02-04
Operating margin expanded 5 percentage points to 32%; operating income +31% 13
Operating margin expanded 5 percentage points to 32%; operating income +31% 13
Net cash build 2025-02-04
Net cash position expanded to 11,584.0 USDm from 6,663.0 USDm in 2024-Q3 (+74%, derived from reported financial debt minus cash). 119
Net cash position expanded to 11,584.0 USDm from 6,663.0 USDm in 2024-Q3 (+74%, derived from reported financial debt minus cash). 119
Cash flow inflection 2025-02-04
Operating cash flow reached 39,113.0 USDm vs 18,915.0 USDm in 2023-Q4 (×2.1). 119
Operating cash flow reached 39,113.0 USDm vs 18,915.0 USDm in 2023-Q4 (×2.1). 119
2024-Q3 · Jul – Sep 2024
„The momentum across the company is extraordinary. Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools. In Search, our new AI features are expanding what people can search for and how they search for it. In Cloud, our AI solutions are helping drive deeper product adoption with existing customers, attract new customers and win larger deals. And YouTube's total ads and subscription revenues surpassed $50 billion over the past four quarters for the first time. We generated strong revenue growth in the quarter, and our ongoing efforts to improve efficiency helped deliver improved margins. I'm looking forward to driving more advances for consumers, customers and creators globally.“ – Sundar Pichai, CEO 11
Revenue accelerating 2024-10-29
Google Cloud revenues +35% to $11.4B, accelerating from 29% in Q2, led by AI Infrastructure, Generative AI Solutions, and core products 11
Google Cloud revenues +35% to $11.4B, accelerating from 29% in Q2, led by AI Infrastructure, Generative AI Solutions, and core products 11
Margin expanding 2024-10-29
Total operating income +34%; operating margin expanded 4.5 percentage points to 32% 11
Total operating income +34%; operating margin expanded 4.5 percentage points to 32% 11
2024-Q2 · Apr – Jun 2024
„Our strong performance this quarter highlights ongoing strength in Search and momentum in Cloud. We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead.“ – Sundar Pichai, CEO 9
revenue 2024-07-23
Google Cloud revenues exceeded $10B quarterly for the first time; Google Cloud operating income reached $1.2B, first $1B quarter 9
Google Cloud revenues exceeded $10B quarterly for the first time; Google Cloud operating income reached $1.2B, first $1B quarter 9
Margin expanding 2024-07-23
Operating margin expanded from 29% to 32%; operating income +26% to $27.4B 9
Operating margin expanded from 29% to 32%; operating income +26% to $27.4B 9
2024-Q1 · Jan – Mar 2024
„Our results in the first quarter reflect strong performance from Search, YouTube and Cloud. We are well under way with our Gemini era and there's great momentum across the company. Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation.“ – Sundar Pichai, CEO 7
„Google is not a conventional company. We do not intend to become one.“ – Larry and Sergey, Founders 6
Revenue accelerating 2024-04-26
Revenue +15% YoY to $80.5B; Google Services +14% to $70.4B, Google Cloud +28% to $9.6B 8
Revenue +15% YoY to $80.5B; Google Services +14% to $70.4B, Google Cloud +28% to $9.6B 8
Margin expanding 2024-04-26
Operating margin expanded from 25% to 32%; operating income +46% to $25.5B, driven by revenue growth and reduced office space optimization charges 8
Operating margin expanded from 25% to 32%; operating income +46% to $25.5B, driven by revenue growth and reduced office space optimization charges 8
Strategic pivot 2024-04-25
First-ever cash dividend initiated at $0.20/share; $70B additional share repurchase program authorized 7
First-ever cash dividend initiated at $0.20/share; $70B additional share repurchase program authorized 7
earnings 2024-01-31
Google Cloud full-year operating income reached $1.7 billion in 2023 compared to an operating loss of $1.9 billion in 2022 6
Google Cloud full-year operating income reached $1.7 billion in 2023 compared to an operating loss of $1.9 billion in 2022 6
Strategic pivot 2024-01-31
Workforce reduction in January 2023 resulted in $2.1 billion in severance charges; capital expenditures of $32.3 billion with planned further increase to support AI products and technical infrastructure 6
Workforce reduction in January 2023 resulted in $2.1 billion in severance charges; capital expenditures of $32.3 billion with planned further increase to support AI products and technical infrastructure 6
2023 · 10 events
2023-Q4 · Oct – Dec 2023
„We are pleased with the ongoing strength in Search and the growing contribution from YouTube and Cloud. Each of these is already benefiting from our AI investments and innovation. As we enter the Gemini era, the best is yet to come.“ – Sundar Pichai, CEO 5
earnings 2024-01-30
Google Cloud Q4 2023 operating income reached $864 million versus an operating loss of $186 million in Q4 2022 5
Google Cloud Q4 2023 operating income reached $864 million versus an operating loss of $186 million in Q4 2022 5
Revenue accelerating 2024-01-30
Q4 2023 revenues rose 13% YoY to $86.3 billion; full year 2023 revenues grew 9% to $307.4 billion 5
Q4 2023 revenues rose 13% YoY to $86.3 billion; full year 2023 revenues grew 9% to $307.4 billion 5
Margin expanding 2024-01-30
Q4 2023 operating margin improved to 27% from 24% in Q4 2022; full year 2023 operating margin expanded one percentage point to 27% 5
Q4 2023 operating margin improved to 27% from 24% in Q4 2022; full year 2023 operating margin expanded one percentage point to 27% 5
2023-Q3 · Jul – Sep 2023
„I'm pleased with our financial results and our product momentum this quarter, with AI-driven innovations across Search, YouTube, Cloud, our Pixel devices and more. We're continuing to focus on making AI more helpful for everyone; there's exciting progress and lots more to come.“ – Sundar Pichai, CEO 3
earnings 2023-10-24
Google Cloud operating income reached $266 million in Q3 2023 versus an operating loss of $440 million in Q3 2022 3
Google Cloud operating income reached $266 million in Q3 2023 versus an operating loss of $440 million in Q3 2022 3
Revenue accelerating 2023-10-24
Consolidated revenues rose 11% YoY to $76.7 billion, accelerating from 7% growth in Q2 2023, driven by Google Services growth of 11% and Google Cloud growth of 22% 3
Consolidated revenues rose 11% YoY to $76.7 billion, accelerating from 7% growth in Q2 2023, driven by Google Services growth of 11% and Google Cloud growth of 22% 3
Margin expanding 2023-10-24
Operating margin improved to 28% from 25% in Q3 2022, with operating income increasing 25% YoY to $21.3 billion 3
Operating margin improved to 28% from 25% in Q3 2022, with operating income increasing 25% YoY to $21.3 billion 3
2023-Q2 · Apr – Jun 2023
„There's exciting momentum across our products and the company, which drove strong results this quarter. Our continued leadership in AI and our excellence in engineering and innovation are driving the next evolution of Search, and improving all our services. With fifteen products that each serve half a billion people, and six that serve over two billion each, we have so many opportunities to deliver on our mission.“ – Sundar Pichai, CEO of Alphabet and Google 1
earnings 2023-07-25
Google Cloud operating income turned positive at $395 million in Q2 2023 versus an operating loss of $590 million in Q2 2022 1
Google Cloud operating income turned positive at $395 million in Q2 2023 versus an operating loss of $590 million in Q2 2022 1
Revenue accelerating 2023-07-25
Revenues grew 7% YoY to $74.6 billion from $69.7 billion in Q2 2022, with Google Services up 5% and Google Cloud up 28% 1
Revenues grew 7% YoY to $74.6 billion from $69.7 billion in Q2 2022, with Google Services up 5% and Google Cloud up 28% 1
Margin expanding 2023-07-25
Operating margin expanded to 29% from 28% in Q2 2022, with operating income up 12% YoY to $21.8 billion 1
Operating margin expanded to 29% from 28% in Q2 2022, with operating income up 12% YoY to $21.8 billion 1
Net cash build 2023-07-25
Net cash position expanded to 11,225.0 USDm from 7,178.0 USDm in 2022-Q4 (+56%, derived from reported financial debt minus cash). 109
Net cash position expanded to 11,225.0 USDm from 7,178.0 USDm in 2022-Q4 (+56%, derived from reported financial debt minus cash). 109
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Key Figures ($m)#
The company's core financial figures in three views, one below the other: fiscal years (as reported; after restatements the table shows the most recent filing version, marked), half-years (6-month basis, H2 = second half on its own) and quarters (3-month basis, not cumulative). Each row is one period, most recent first. Values with a dotted underline are clickable and show the raw value, the exact source location, the scale evidence and the source; derived values additionally show their formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Revenue ($m) · annual basis, as reported
Net income ($m) · annual basis, as reported
EPS ($) · annual basis, as reported
Operating cash flow ($m) · annual basis, as reported
Revenue ($m) · quarterly basis, as reported
Net income ($m) · quarterly basis, as reported
EPS ($) · quarterly basis, as reported
Operating cash flow ($m) · quarterly basis, as reported
Cash ($m) · annual basis, as reported
Debt ($m) · annual basis, as reported
Net Debt ($m) · annual basis, as reported
Capex ($m) · annual basis, as reported
FCF ($m) · annual basis, as reported
Cash ($m) · quarterly basis, as reported
Debt ($m) · quarterly basis, as reported
Net Debt ($m) · quarterly basis, as reported
Capex ($m) · quarterly basis, as reported
FCF ($m) · quarterly basis, as reported
D&A ($m) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2016 is on record.
Fiscal years
Amounts in $m · EPS in $ per share · as reported
| Period | Revenue | Op. income | Net income | EPS ($) | OCF | Source |
|---|---|---|---|---|---|---|
| FY2025 | 402,836 | 129,039 | 132,170 | 10.81 | 164,713 | 22 |
| FY2024 | 350,018 | 112,390 | 100,118 | 8.04 | 125,299 | 14 |
| FY2023 | 307,394 | 84,293 | 73,795 | 5.80 | 101,746 | 113 |
Quarters
Amounts in $m · EPS in $ per share · as reported
| Period | Published | Revenue | Op. income | Net income | EPS ($) | FCF | Cash | Net Debt | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-07-23 | 119,796 | 40,770 | 112,193 | 9.11 | -5,855 | 55,911 | 44,253 | 26 |
| 2026-Q1* | 2026-04-29 | 109,896 | 39,696 | 62,578 | 5.11 | 10,116 | 38,063 | 41,436 | 23 |
| 2025-Q4* | 2026-02-04 | 113,829 | 35,934 | 34,455 | 2.82* | 24,551 | 30,708 | 17,835 | 21 |
| 2025-Q3* | 2025-10-29 | 102,346 | 31,228 | 34,979 | 2.87 | 24,461 | 23,090 | 512 | 19 |
| 2025-Q2* | 2025-07-23 | 96,428 | 31,271 | 28,196 | 2.31 | 5,301 | 21,036 | 3,571 | 17 |
| 2025-Q1* | 2025-04-24 | 90,234 | 30,606 | 34,540 | 2.81 | 18,953 | 23,264 | -11,378 | 15 |
| 2024-Q4* | 2025-02-04 | 96,469 | 30,972 | 26,536 | 2.13* | 24,837 | 23,466 | -11,584 | 13 |
| 2024-Q3* | 2024-10-29 | 88,268 | 28,521 | 26,301 | 2.12 | 17,637 | 19,959 | -6,663 | 119 |
| 2024-Q2* | 2024-07-23 | 84,742 | 27,425 | 23,619 | 1.89 | 13,454 | 27,225 | -13,987 | 117 |
| 2024-Q1* | 2024-04-25 | 80,539 | 25,472 | 23,662 | 1.89 | 16,836 | 24,493 | -11,265 | 7 |
| 2023-Q4* | 2024-01-30 | 86,310 | 23,697 | 20,687 | 1.63* | 7,896 | 24,048 | -11,178 | 5 |
| 2023-Q3* | 2023-10-24 | 76,693 | 21,343 | 19,689 | 1.55 | 22,601 | 30,702 | -15,921 | 3 |
| 2023-Q2* | 2023-07-25 | 74,604 | 21,838 | 18,368 | 1.44 | 21,778 | 25,929 | -11,225 | 1 |
| 2023-Q1* | 2023-04-26 | 69,787 | 17,415 | 15,051 | 1.17 | 17,220 | 25,924 | – | 8 |
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
EPS/EPS adj. before 2022-02-02 split-adjusted (÷20; stock split detected via implied diluted share count).
Columns not reported in this reporting cadence are hidden: Op. income (adj.), EBITDA (adj.), EPS adj., Net Debt/EBITDA (not reported in any source for these periods).
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Balance Sheet & Cash Flow ($m)#
Point-in-time balance sheet items (e.g. cash, financial debt) and cash flow items (operating cash flow, investments/capex) per fiscal year, half-year and quarter. Balance sheet values are as of the period end, flow items cover the period. Derived values are marked and are calculated, for example, as: net debt = financial debt − cash; free cash flow = operating cash flow − capex; the click popover shows formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
Fiscal years
Amounts in $m · as reported
| Period | Published | Cash | Debt | Net Debt | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 2026-02-05 | 30,708 | 48,543 | 17,835 | 164,713 | 91,447 | 73,266 | 22 |
| FY2024 | 2025-02-05 | 23,466 | 11,882 | -11,584 | 125,299 | 52,535 | 72,764 | 14 |
| FY2023 | 2024-01-31 | 24,048 | 12,870 | -11,178 | 101,746 | 32,251 | 69,495 | 6 |
Quarters
Amounts in $m · as reported
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-07-23 | 55,911 | 100,164 | 44,253 | 7,471 | 39,069 | 44,924 | -5,855 | 26 |
| 2026-Q1 | 2026-04-29 | 38,063 | 79,499 | 41,436 | 6,660 | 45,790 | 35,674 | 10,116 | 23 |
| 2025-Q4 | 2026-02-04 | 30,708 | 48,543 | 17,835 | – | 52,402 | 27,851 | 24,551 | 21 |
| 2025-Q3 | 2025-10-29 | 23,090 | 23,602 | 512 | – | 48,414 | 23,953 | 24,461 | 19 |
| 2025-Q2 | 2025-07-23 | 21,036 | 24,607 | 3,571 | 5,122 | 27,747 | 22,446 | 5,301 | 17 |
| 2025-Q1 | 2025-04-24 | 23,264 | 11,886 | -11,378 | 4,609 | 36,150 | 17,197 | 18,953 | 15 |
| 2024-Q4 | 2025-02-04 | 23,466 | 11,882 | -11,584 | – | 39,113 | 14,276 | 24,837 | 13 |
| 2024-Q3 | 2024-10-29 | 19,959 | 13,296 | -6,663 | – | 30,698 | 13,061 | 17,637 | 119 |
| 2024-Q2 | 2024-07-23 | 27,225 | 13,238 | -13,987 | – | 26,640 | 13,186 | 13,454 | 117 |
| 2024-Q1 | 2024-04-25 | 24,493 | 13,228 | -11,265 | – | 28,848 | 12,012 | 16,836 | 7 |
| 2023-Q4 | 2024-01-30 | 24,048 | 12,870 | -11,178 | – | 18,915 | 11,019 | 7,896 | 5 |
| 2023-Q3 | 2023-10-24 | 30,702 | 14,781 | -15,921 | – | 30,656 | 8,055 | 22,601 | 3 |
| 2023-Q2 | 2023-07-25 | 25,929 | 14,704 | -11,225 | – | 28,666 | 6,888 | 21,778 | 1 |
| 2023-Q1 | 2023-04-26 | 25,924 | – | – | – | 23,509 | 6,289 | 17,220 | 8 |
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.
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Revenue by Type (as of 2026-Q2 · USDm · 3/7)#
Revenue split by segment or product type, exactly as the company itself reports it. The basis is stated next to each value (3, 6 or 12 months); segment totals can deviate from group revenue (reconciliation/consolidation items). If the company changes its segment structure, older structures are kept in the expandable part. Rows in grey are no longer reported separately by the company; they show the last available figures and are never extrapolated.
| Segment | Since | Period | Basis | Revenue | Source |
|---|---|---|---|---|---|
| Google Services | 2023-Q2 | 2026-Q1 | 3M | 89,637 | 24 |
| Google Cloud | 2023-Q2 | 2026-Q1 | 3M | 20,028 | 24 |
| Other Bets | 2023-Q2 | 2026-Q1 | 3M | 411 | 24 |
| Google Search & other | FY2023 | FY2023 | 12M | 175,033 | 6 |
| Google subscriptions, platforms, and devices | FY2023 | FY2023 | 12M | 34,688 | 6 |
| YouTube ads | FY2023 | FY2023 | 12M | 31,510 | 6 |
| Google Network | FY2023 | FY2023 | 12M | 31,312 | 6 |
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Products & M&A (16/25 active+recent)#
Product announcements from the reports; market launches, approvals, partnerships; with first mention (date) and source. “Active/current” means: still mentioned in the most recent reports; what the company no longer mentions moves to the expandable part but is never deleted. Rows in grey are discontinued products.
| Product/Line | Since | Status | Source |
|---|---|---|---|
| Gemini Enterprise deployment | 2026-06 | Launched | 25 |
| TPU system revenue recognition | 2026-04 | Launched | 26 |
| Dividend increase | 2026-04 | Launched | 23 |
| TPU hardware supply agreements | 2026-03 | Launched | 24 |
| Waymo investment round | 2026-02 | Launched | 22 |
| Power purchase agreement | 2026-01 | Launched | 22 |
| Google Cloud AI Infrastructure expansion | 2025-09 | Launched | 19 |
| Gemini App reached 650 million MAU | 2025-09 | Launched | 19 |
| AI products and services expansion | 2025-09 | Launched | 20 |
| AI in Search (5x) | 2025-06 | Launched | 22 |
| Senior Unsecured Notes issuance | 2025-05 | Launched | 23 |
| Pixel 10 series | 2025 | Launched | 22 |
| Ironwood seventh-generation TPU | 2025 | Launched | 22 |
| Enterprise AI solutions on Google Cloud Platform | 2025 | Launched | 22 |
| Gemini 2.5 | 2023-12 | Launched | 22 |
| Pixel Watch 4 | 2023 | Launched | 22 |
| YouTube TV, YouTube Music Premium, NFL Sunday Ticket subscriptions | 2024-09 | Launched | 12 |
| Pixel family product launch | 2024-09 | Launched | 12 |
| Google One subscriptions | 2024-09 | Launched | 12 |
| Gemini for Google Cloud (3x) | 2024-09 | Launched | 14 |
| Dividend program initiation and first quarterly dividend | 2024-06 | Launched | 7 |
| Cash dividend program | 2024-06 | Launched | 14 |
| AI model development consolidation into Google DeepMind | 2024-06 | Launched | 7 |
| Stock repurchase authorization | 2024-03 | Launched | 7 |
| Pixel 8 and Pixel 8 Pro devices launch | 2023 | Launched | 6 |
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M&A (8)#
All recorded acquisitions (purchases) and divestitures/exits with date, short description and source; deliberately including smaller transactions that summaries often miss. Purchase prices appear only where the company itself has disclosed them. Rows in grey are cancelled transactions; the cancellation date is shown in the row.
Acquisitions · 6Divestitures/exits · 1older: 1 (in the table)
Acquisitions
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Intersect acquisition | 2026 | Completed | 26 |
| Wiz acquisition | 2025-03 | Completed | 26 |
| Operating lease agreements commenced between 2024 and 2026 | 2024 | Announced | 6 |
| Board authorization for additional $70.0 billion share repurchase program | 2023-04 | Completed | 6 |
| Change in estimated useful lives of servers and network equipment | 2023-01 | Completed | 6 |
| Office space optimization | 2023 | Completed | 2 |
| European Commission 2019 fine | 2017 | Completed | 6 |
Divestitures / exits
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| GFiber divestiture | 2026-12 | Divested | 24 |
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Reported KPIs (as disclosed) (305)#
Figures the company discloses itself in addition to the standard financials; order intake, recurring revenue, user or unit counts, adjusted measures. These “story KPIs” usually slip through standard databases; here they are collected as reported, with no calculation of our own. Important: the definition comes from the company itself and can differ from firm to firm; period and source are stated next to every value.
Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
| Date | Period | KPI | Value / change | Source |
|---|---|---|---|---|
| 2026-07-23 | 2026-Q2 | total undiscounted future lease payments under operating leases | $21.3 billion | 26 |
| 2026-07-23 | 2026-Q2 | total undiscounted future lease payments under finance leases | $2.9 billion | 26 |
| 2026-07-23 | 2026-Q2 | short-term purchase commitments | $200.7 billion | 26 |
| 2026-07-23 | 2026-Q2 | short-term lease agreement commitment | $5.8 billion | 26 |
| 2026-07-23 | 2026-Q2 | outstanding debt under credit facilities | $1.3 billion | 26 |
| 2026-07-23 | 2026-Q2 | material purchase commitments and other contractual obligations | $811.0 billion | 26 |
| 2026-07-23 | 2026-Q2 | long-term debt outstanding | $98.2 billion | 26 |
| 2026-07-23 | 2026-Q2 | future lease payments for leases not yet commenced | $85.2 billion | 26 |
| 2026-07-23 | 2026-Q2 | future capital funding commitments with private company | $20.0 billion | 26 |
| 2026-07-23 | 2026-Q2 | future backstops for data center and energy supply infrastructure | $24.1 billion | 26 |
| 2026-07-23 | 2026-Q2 | financial guarantees | $7.6 billion | 26 |
| 2026-07-23 | 2026-Q2 | credit facilities | $11.7 billion | 26 |
| 2026-07-23 | 2026-Q2 | credit derivatives maximum potential amount | $43.8 billion | 26 |
| 2026-07-23 | 2026-Q2 | commercial paper program | $25.0 billion | 26 |
| 2026-07-23 | 2026-Q2 | cash, cash equivalents, and short-term marketable securities | $242.5 billion | 26 |
| 2026-07-23 | 2026-Q2 | accrued legal and regulatory fines and settlements | $17.4 billion | 26 |
| 2026-07-22 | 2026-Q2 | YouTube ads growth | 13% | 25 |
| 2026-07-22 | 2026-Q2 | World Cup video viewers | over 1.7 billion | 25 |
| 2026-07-22 | 2026-Q2 | Operating margin | 34% | 25 |
| 2026-07-22 | 2026-Q2 | Google subscriptions platforms devices growth | 15% | 25 |
| 2026-07-22 | 2026-Q2 | Google Search and other growth | 17% | 25 |
| 2026-07-22 | 2026-Q2 | Google Cloud growth | 82% | 25 |
| 2026-07-22 | 2026-Q2 | Gemini Enterprise Fortune 100 adoption | nearly 90% | 25 |
| 2026-07-22 | 2026-Q2 | Gemini App monthly active users | 950 million | 25 |
| 2026-07-22 | 2026-Q2 | Gemini API tokens per minute | 22 billion | 25 |
| 2026-07-22 | 2026-Q2 | Free cash flow TTM Q2 2026 | 53,273 (USD in millions) | 25 |
| 2026-07-22 | 2026-Q2 | Free cash flow Q2 2026 | -5,855 (USD in millions) | 25 |
| 2026-04-30 | 2026-Q1 | Total undiscounted future lease payments - operating leases | $18.8 billion | 24 |
| 2026-04-30 | 2026-Q1 | Total undiscounted future lease payments - finance leases | $2.6 billion | 24 |
| 2026-04-30 | 2026-Q1 | Short-term portion of commitments and obligations | $138.0 billion | 24 |
| 2026-04-30 | 2026-Q1 | Short-term accrued legal and regulatory fines and settlements | $15.6 billion | 24 |
| 2026-04-30 | 2026-Q1 | Share repurchase authorization remaining | $69.5 billion | 24 |
| 2026-04-30 | 2026-Q1 | Senior unsecured notes outstanding | $79.1 billion | 24 |
| 2026-04-30 | 2026-Q1 | Sales and marketing expenses as % of revenues | 7% | 24 |
| 2026-04-30 | 2026-Q1 | Research and development expenses as % of revenues | 16% | 24 |
| 2026-04-30 | 2026-Q1 | Operating margin | 36% | 24 |
| 2026-04-30 | 2026-Q1 | Material purchase commitments and contractual obligations | $332.4 billion | 24 |
| 2026-04-30 | 2026-Q1 | General and administrative expenses as % of revenues | 4% | 24 |
| 2026-04-30 | 2026-Q1 | Future lease payments not yet commenced | $75.6 billion | 24 |
| 2026-04-30 | 2026-Q1 | Future backstops commitment | $33.3 billion | 24 |
| 2026-04-30 | 2026-Q1 | Financial guarantees and credit derivatives maximum potential | $37.4 billion | 24 |
| 2026-04-30 | 2026-Q1 | Effective tax rate | 19.2% | 24 |
| 2026-04-30 | 2026-Q1 | Data center provider backstop agreement | $15.3 billion | 24 |
| 2026-04-30 | 2026-Q1 | Credit facilities outstanding | $1.2 billion | 24 |
| 2026-04-30 | 2026-Q1 | Credit facilities available | $11.7 billion | 24 |
| 2026-04-30 | 2026-Q1 | Commercial paper program capacity | $25.0 billion | 24 |
| 2026-04-30 | 2026-Q1 | Cash, cash equivalents, and short-term marketable securities | $126.8 billion | 24 |
| 2026-04-29 | 2026-Q1 | Waymo fully autonomous rides per week | 500,000 | 23 |
| 2026-04-29 | 2026-Q1 | Paid subscriptions | 350 million | 23 |
| 2026-04-29 | 2026-Q1 | Google Cloud backlog | over $460 billion | 23 |
| 2026-04-29 | 2026-Q1 | Gemini Enterprise paid monthly active users growth | 40% quarter on quarter | 23 |
| 2026-04-29 | 2026-Q1 | Gemini API tokens per minute | more than 16 billion tokens per minute | 23 |
| 2026-02-05 | FY2025 | R&D investment five years | more than $200 billion | 22 |
| 2026-02-05 | FY2025 | International revenues % | 52% | 22 |
| 2026-02-05 | FY2025 | Half-billion user products | 15 | 22 |
| 2026-02-05 | FY2025 | Billion user products | 7 | 22 |
| 2026-02-05 | FY2025 | Advertising revenues pct | more than 70% | 22 |
| 2026-02-05 | FY2025 | Voting power of common stock (Page and Brin) | 52.7% | 22 |
| 2026-02-05 | FY2025 | Senior unsecured notes outstanding (carrying value) | 48.5 billion | 22 |
| 2026-02-05 | FY2025 | Revolving credit facilities | 10.0 billion | 22 |
| 2026-02-05 | FY2025 | Purchase commitments and contractual obligations | 149.1 billion | 22 |
| 2026-02-05 | FY2025 | Operating leases not yet commenced | 58.5 billion | 22 |
| 2026-02-05 | FY2025 | Operating leases - undiscounted future payments | 18.3 billion | 22 |
| 2026-02-05 | FY2025 | Operating cash flow | 164.7 billion | 22 |
| 2026-02-05 | FY2025 | Non-marketable equity securities | 64.1 billion | 22 |
| 2026-02-05 | FY2025 | Marketable equity securities | 6.3 billion | 22 |
| 2026-02-05 | FY2025 | Finance leases - undiscounted future payments | 2.9 billion | 22 |
| 2026-02-05 | FY2025 | Equity method investments | 2.5 billion | 22 |
| 2026-02-05 | FY2025 | Commercial paper program | 25.0 billion | 22 |
| 2026-02-05 | FY2025 | Class B stock beneficial ownership (Page and Brin) | 89.3% | 22 |
| 2026-02-05 | FY2025 | Cash, cash equivalents, and short-term marketable securities | 126.8 billion | 22 |
| 2026-02-05 | FY2025 | Capital expenditures | 91.4 billion | 22 |
| 2026-02-05 | FY2025 | Accrued legal and regulatory fines and settlements (short-term) | 15.6 billion | 22 |
| 2026-02-04 | 2025-Q4 | YouTube annual revenues | 60 billion | 21 |
| 2026-02-04 | 2025-Q4 | Paid subscriptions across consumer services | over 325 million | 21 |
| 2026-02-04 | 2025-Q4 | Google Cloud annual run rate | over 70 billion | 21 |
| 2026-02-04 | 2025-Q4 | Gemini tokens processed per minute | over 10 billion | 21 |
| 2026-02-04 | 2025-Q4 | Gemini App monthly active users | over 750 million | 21 |
| 2025-10-30 | 2025-Q3 | share repurchases 9M | $40,117 | 20 |
| 2025-10-30 | 2025-Q3 | operating cash flow Q3 | $48.4 billion | 20 |
| 2025-10-30 | 2025-Q3 | operating cash flow 9M | $112,311 | 20 |
| 2025-10-30 | 2025-Q3 | dividends 9M | $5.3 billion | 20 |
| 2025-10-30 | 2025-Q3 | cash and equivalents | $98.5 billion | 20 |
| 2025-10-30 | 2025-Q3 | capital expenditures Q3 | $24.0 billion | 20 |
| 2025-10-30 | 2025-Q3 | capital expenditures 9M | $63.6 billion | 20 |
| 2025-10-29 | 2025-Q3 | paid subscriptions | over 300 million | 19 |
| 2025-10-29 | 2025-Q3 | Google Cloud backlog | $155 billion | 19 |
| 2025-10-29 | 2025-Q3 | Gemini tokens per minute | 7 billion | 19 |
| 2025-10-29 | 2025-Q3 | Gemini App monthly active users | over 650 million | 19 |
| 2025-07-24 | 2025-Q2 | total future lease payments operating leases | 17.4 billion | 18 |
| 2025-07-24 | 2025-Q2 | total future lease payments finance leases | 2.6 billion | 18 |
| 2025-07-24 | 2025-Q2 | TAC rate three months 2025 | 20.6 % | 18 |
| 2025-07-24 | 2025-Q2 | TAC rate three months 2024 | 20.7 % | 18 |
| 2025-07-24 | 2025-Q2 | TAC rate six months 2025 | 20.6 % | 18 |
| 2025-07-24 | 2025-Q2 | TAC rate six months 2024 | 20.9 % | 18 |
| 2025-07-24 | 2025-Q2 | short-term purchase commitments | 51.0 billion | 18 |
| 2025-07-24 | 2025-Q2 | short-term commercial paper outstanding | 3.0 billion | 18 |
| 2025-07-24 | 2025-Q2 | share repurchase available balance | 86.3 billion | 18 |
| 2025-07-24 | 2025-Q2 | share repurchase authorization April 2025 | 70.0 billion | 18 |
| 2025-07-24 | 2025-Q2 | share repurchase authorization April 2024 | 70.0 billion | 18 |
| 2025-07-24 | 2025-Q2 | senior unsecured notes outstanding carrying value | 24.6 billion | 18 |
| 2025-07-24 | 2025-Q2 | revolving credit facilities expiring April 2030 | 6.0 billion | 18 |
| 2025-07-24 | 2025-Q2 | revolving credit facilities expiring April 2026 | 4.0 billion | 18 |
| 2025-07-24 | 2025-Q2 | revolving credit facilities | 10.0 billion | 18 |
| 2025-07-24 | 2025-Q2 | paid clicks change Google Search & Other three months | 4 % | 18 |
| 2025-07-24 | 2025-Q2 | paid clicks change Google Search & Other six months | 3 % | 18 |
| 2025-07-24 | 2025-Q2 | material purchase commitments and other contractual obligations | 72.5 billion | 18 |
| 2025-07-24 | 2025-Q2 | impressions change Google Network three months | (6) % | 18 |
| 2025-07-24 | 2025-Q2 | impressions change Google Network six months | (5) % | 18 |
| 2025-07-24 | 2025-Q2 | future lease payments not yet commenced | 23.9 billion | 18 |
| 2025-07-24 | 2025-Q2 | cost per impression change Google Network three months | 6 % | 18 |
| 2025-07-24 | 2025-Q2 | cost per impression change Google Network six months | 5 % | 18 |
| 2025-07-24 | 2025-Q2 | cost per click change Google Search & Other three months | 8 % | 18 |
| 2025-07-24 | 2025-Q2 | cost per click change Google Search & Other six months | 8 % | 18 |
| 2025-07-24 | 2025-Q2 | cash and equivalents | 95.1 billion | 18 |
| 2025-07-23 | 2025-Q2 | Google Cloud annual revenue run-rate | more than $50 billion | 17 |
| 2025-04-25 | 2025-Q1 | other income (expense), net | 11,183 millions | 16 |
| 2025-04-25 | 2025-Q1 | operating margin | 34% | 16 |
| 2025-04-25 | 2025-Q1 | operating income | 30,606 millions | 16 |
| 2025-04-25 | 2025-Q1 | operating expenses | 23,267 millions | 16 |
| 2025-04-25 | 2025-Q1 | operating cash flow | 36,150 millions | 16 |
| 2025-04-25 | 2025-Q1 | net income | 34,540 millions | 16 |
| 2025-04-25 | 2025-Q1 | diluted EPS | $2.81 | 16 |
| 2025-04-25 | 2025-Q1 | cost of revenues | 36,361 millions | 16 |
| 2025-04-25 | 2025-Q1 | consolidated revenues | 90,234 millions | 16 |
| 2025-04-25 | 2025-Q1 | cash and equivalents | 95.3 billions | 16 |
| 2025-04-25 | 2025-Q1 | capital expenditures | 17.2 billions | 16 |
| 2025-04-24 | 2025-Q1 | paid subscriptions | 270 million | 15 |
| 2025-04-24 | 2025-Q1 | AI Overviews monthly users | 1.5 billion | 15 |
| 2025-02-05 | FY2024 | total shares repurchased | 379 | 14 |
| 2025-02-05 | FY2024 | total share repurchases | $62,047 | 14 |
| 2025-02-05 | FY2024 | total revolving credit facilities | $10.0 billion | 14 |
| 2025-02-05 | FY2024 | total future operating lease payments short term | $3.2 billion | 14 |
| 2025-02-05 | FY2024 | total future operating lease payments long term | $17.0 billion | 14 |
| 2025-02-05 | FY2024 | total future finance lease payments short term | $257 million | 14 |
| 2025-02-05 | FY2024 | total future finance lease payments long term | $1.9 billion | 14 |
| 2025-02-05 | FY2024 | total dividend payments | $7.4 billion | 14 |
| 2025-02-05 | FY2024 | share repurchase authorization remaining | $44.7 billion | 14 |
| 2025-02-05 | FY2024 | senior unsecured notes short term interest payments | $197 million | 14 |
| 2025-02-05 | FY2024 | senior unsecured notes long term interest payments | $3.4 billion | 14 |
| 2025-02-05 | FY2024 | senior unsecured notes carrying value | $11.9 billion | 14 |
| 2025-02-05 | FY2024 | revolving credit facilities April 2028 | $6.0 billion | 14 |
| 2025-02-05 | FY2024 | revolving credit facilities April 2025 | $4.0 billion | 14 |
| 2025-02-05 | FY2024 | R&D investment five years | >150 billion | 14 |
| 2025-02-05 | FY2024 | operating margin | 32% | 14 |
| 2025-02-05 | FY2024 | Operating lease expenses | $4.7 billion | 14 |
| 2025-02-05 | FY2024 | Non-marketable equity securities carrying value | $35.5 billion | 14 |
| 2025-02-05 | FY2024 | Material purchase commitments short-term | $32.5 billion | 14 |
| 2025-02-05 | FY2024 | Material purchase commitments and contractual obligations | $55.4 billion | 14 |
| 2025-02-05 | FY2024 | Marketable equity securities | $5.1 billion | 14 |
| 2025-02-05 | FY2024 | International revenues % | 51 | 14 |
| 2025-02-05 | FY2024 | Future lease payments not yet commenced short-term | $773 million | 14 |
| 2025-02-05 | FY2024 | Future lease payments not yet commenced long-term | $6.5 billion | 14 |
| 2025-02-05 | FY2024 | Finance lease costs | $444 million | 14 |
| 2025-02-05 | FY2024 | Equity method investments | $2.0 billion | 14 |
| 2025-02-05 | FY2024 | Effective tax rate | 16.4% | 14 |
| 2025-02-05 | FY2024 | Dividend payments class C shares | $3.3 billion | 14 |
| 2025-02-05 | FY2024 | Dividend payments class B shares | $519 million | 14 |
| 2025-02-05 | FY2024 | Dividend payments class A shares | $3.5 billion | 14 |
| 2025-02-05 | FY2024 | Depreciation on property and equipment | $15.3 billion | 14 |
| 2025-02-05 | FY2024 | Commercial paper outstanding | $2.3 billion | 14 |
| 2025-02-05 | FY2024 | Class C share repurchases amount | $50,192 | 14 |
| 2025-02-05 | FY2024 | Class A share repurchases amount | $11,855 | 14 |
| 2025-02-05 | FY2024 | Cash equivalents and short-term marketable securities | $95.7 billion | 14 |
| 2025-02-05 | FY2024 | Advertising revenue pct | >75 | 14 |
| 2025-02-05 | FY2024 | Additional operating lease assets | $2.5 billion | 14 |
| 2025-02-05 | FY2024 | additional finance lease assets | $313 million | 14 |
| 2024-10-30 | 2024-Q3 | uncommenced leases future payments | $6.1 billion | 12 |
| 2024-10-30 | 2024-Q3 | total future lease payments operating leases | $17.1 billion | 12 |
| 2024-10-30 | 2024-Q3 | total dividend payments | $2.5 billion | 12 |
| 2024-10-30 | 2024-Q3 | short-term commercial paper outstanding | $1.0 billion | 12 |
| 2024-10-30 | 2024-Q3 | share repurchases class A and C | $15.3 billion | 12 |
| 2024-10-30 | 2024-Q3 | senior unsecured notes outstanding | $11.9 billion | 12 |
| 2024-10-30 | 2024-Q3 | revolving credit facilities | $10.0 billion | 12 |
| 2024-10-30 | 2024-Q3 | paid clicks change | 4% | 12 |
| 2024-10-30 | 2024-Q3 | Operating lease expenses | $3.5 billion | 12 |
| 2024-10-30 | 2024-Q3 | nine month share repurchases | $47.0 billion | 12 |
| 2024-10-30 | 2024-Q3 | Material purchase commitments and contractual obligations | $50.8 billion | 12 |
| 2024-10-30 | 2024-Q3 | impressions change | -14% | 12 |
| 2024-10-30 | 2024-Q3 | dividend payments class C | $1.1 billion | 12 |
| 2024-10-30 | 2024-Q3 | dividend payments class B | $173 million | 12 |
| 2024-10-30 | 2024-Q3 | dividend payments class A | $1.2 billion | 12 |
| 2024-10-30 | 2024-Q3 | cost per impression change | 15% | 12 |
| 2024-10-30 | 2024-Q3 | cost per click change | 8% | 12 |
| 2024-10-30 | 2024-Q3 | cash, cash equivalents & marketable securities | $93.2 billion | 12 |
| 2024-10-30 | 2024-Q3 | available for share repurchases | $59.7 billion | 12 |
| 2024-10-29 | 2024-Q3 | Total TAC | 13,719 | 11 |
| 2024-10-29 | 2024-Q3 | Other Bets revenues | 388 (USD in millions) | 11 |
| 2024-10-29 | 2024-Q3 | Google Services revenues | 76,510 (USD in millions) | 11 |
| 2024-10-29 | 2024-Q3 | Google Cloud revenues | 11,353 (USD in millions) | 11 |
| 2024-07-24 | 2024-Q2 | weighted average remaining lease term | 7.9 years | 10 |
| 2024-07-24 | 2024-Q2 | total shares repurchased three months | 92 million | 10 |
| 2024-07-24 | 2024-Q2 | Total Shares Repurchased (6M) | 203 million | 10 |
| 2024-07-24 | 2024-Q2 | Total Repurchase Amount (3M) | 15.598 billion | 10 |
| 2024-07-24 | 2024-Q2 | Total Repurchase Amount (6M) | 31.655 billion | 10 |
| 2024-07-24 | 2024-Q2 | Total Future Lease Payments | 16.9 billion | 10 |
| 2024-07-24 | 2024-Q2 | Total Dividend Paid | 2.5 billion | 10 |
| 2024-07-24 | 2024-Q2 | TAC rate three months 2024 | 20.7% | 10 |
| 2024-07-24 | 2024-Q2 | TAC Rate (3M 2023) | 21.6% | 10 |
| 2024-07-24 | 2024-Q2 | TAC rate six months 2024 | 20.9% | 10 |
| 2024-07-24 | 2024-Q2 | TAC Rate (6M 2023) | 21.5% | 10 |
| 2024-07-24 | 2024-Q2 | short-term purchase commitments | 41.0 billion | 10 |
| 2024-07-24 | 2024-Q2 | Share Repurchase Authorization 2024 | 70.0 billion | 10 |
| 2024-07-24 | 2024-Q2 | Share Repurchase Authorization 2023 | 70.0 billion | 10 |
| 2024-07-24 | 2024-Q2 | senior unsecured notes outstanding | 11.9 billion | 10 |
| 2024-07-24 | 2024-Q2 | revolving credit facilities | 10.0 billion | 10 |
| 2024-07-24 | 2024-Q2 | Remaining Share Repurchase Authorization | 74.9 billion | 10 |
| 2024-07-24 | 2024-Q2 | Purchase Commitments and Other Contractual Obligations | 54.9 billion | 10 |
| 2024-07-24 | 2024-Q2 | Paid Clicks Change Google Search and Other (3M) | 6% | 10 |
| 2024-07-24 | 2024-Q2 | Paid Clicks Change Google Search and Other (6M) | 5% | 10 |
| 2024-07-24 | 2024-Q2 | Operating Lease Expenses (6M 2024) | 2.3 billion | 10 |
| 2024-07-24 | 2024-Q2 | Operating Lease Expenses (6M 2023) | 2.2 billion | 10 |
| 2024-07-24 | 2024-Q2 | Operating Lease Assets (6M 2024) | 897 million | 10 |
| 2024-07-24 | 2024-Q2 | Operating Lease Assets (6M 2023) | 1.7 billion | 10 |
| 2024-07-24 | 2024-Q2 | Operating Cash Flow (6M 2024) | 55.488 billion | 10 |
| 2024-07-24 | 2024-Q2 | Operating Cash Flow (6M 2023) | 52.175 billion | 10 |
| 2024-07-24 | 2024-Q2 | operating cash flow | 26.6 billion | 10 |
| 2024-07-24 | 2024-Q2 | Investing Cash Flow (6M 2024) | (11.345 billion) | 10 |
| 2024-07-24 | 2024-Q2 | investing cash flow six months 2023 | (13.746 billion) | 10 |
| 2024-07-24 | 2024-Q2 | impressions change Google Network three months | (17)% | 10 |
| 2024-07-24 | 2024-Q2 | impressions change Google Network six months | (15)% | 10 |
| 2024-07-24 | 2024-Q2 | financing cash flow six months 2024 | (40.603 billion) | 10 |
| 2024-07-24 | 2024-Q2 | financing cash flow six months 2023 | (34.403 billion) | 10 |
| 2024-07-24 | 2024-Q2 | dividend per share | 0.20 | 10 |
| 2024-07-24 | 2024-Q2 | depreciation six months 2024 | 7.1 billion | 10 |
| 2024-07-24 | 2024-Q2 | depreciation six months 2023 | 5.5 billion | 10 |
| 2024-07-24 | 2024-Q2 | cost per impression change Google Network three months | 13% | 10 |
| 2024-07-24 | 2024-Q2 | cost per impression change Google Network six months | 14% | 10 |
| 2024-07-24 | 2024-Q2 | cost per click change Google Search and other three months | 7% | 10 |
| 2024-07-24 | 2024-Q2 | cost per click change Google Search and other six months | 8% | 10 |
| 2024-07-24 | 2024-Q2 | Commercial paper outstanding | 0 | 10 |
| 2024-07-24 | 2024-Q2 | Class C shares repurchased three months | 73 million | 10 |
| 2024-07-24 | 2024-Q2 | Class C shares repurchased six months | 160 million | 10 |
| 2024-07-24 | 2024-Q2 | Class C repurchase amount three months | 12.333 billion | 10 |
| 2024-07-24 | 2024-Q2 | Class C repurchase amount six months | 25.040 billion | 10 |
| 2024-07-24 | 2024-Q2 | Class C dividend paid | 1.1 billion | 10 |
| 2024-07-24 | 2024-Q2 | Class B dividend paid | 173 million | 10 |
| 2024-07-24 | 2024-Q2 | Class A shares repurchased three months | 19 million | 10 |
| 2024-07-24 | 2024-Q2 | Class A shares repurchased six months | 43 million | 10 |
| 2024-07-24 | 2024-Q2 | Class A repurchase amount three months | 3.265 billion | 10 |
| 2024-07-24 | 2024-Q2 | Class A repurchase amount six months | 6.615 billion | 10 |
| 2024-07-24 | 2024-Q2 | Class A dividend paid | 1.2 billion | 10 |
| 2024-07-24 | 2024-Q2 | cash and equivalents and marketable securities | 100.7 billion | 10 |
| 2024-07-24 | 2024-Q2 | Capital expenditures H1 2024 | 25.2 billion | 10 |
| 2024-07-24 | 2024-Q2 | Capital expenditures H1 2023 | 13.2 billion | 10 |
| 2024-07-24 | 2024-Q2 | capital expenditures | 13.2 billion | 10 |
| 2024-04-26 | 2024-Q1 | Total Future Lease Payments | 17.2 billion | 8 |
| 2024-04-26 | 2024-Q1 | short-term purchase commitments | 29.4 billion | 8 |
| 2024-04-26 | 2024-Q1 | Shares repurchased | 111 million | 8 |
| 2024-04-26 | 2024-Q1 | Share repurchase amount | 16.1 billion | 8 |
| 2024-04-26 | 2024-Q1 | Remaining available for repurchase | 20.4 billion | 8 |
| 2024-04-26 | 2024-Q1 | Operating lease assets | 0.4 billion | 8 |
| 2024-04-26 | 2024-Q1 | material purchase commitments and other contractual obligations | 44.0 billion | 8 |
| 2024-04-26 | 2024-Q1 | Depreciation on property and equipment | 3.4 billion | 8 |
| 2024-04-26 | 2024-Q1 | Cash and cash equivalents | 108.1 billion | 8 |
| 2024-04-26 | 2024-Q1 | capital expenditures | 12.0 billion | 8 |
| 2024-04-26 | 2024-Q1 | Additional repurchase authorization | 70.0 billion | 8 |
| 2024-01-31 | FY2023 | Total revenues from online advertising 2023 | more than 75% | 6 |
| 2024-01-31 | FY2023 | Total future lease payments | 17.7 billion | 6 |
| 2024-01-31 | FY2023 | short-term purchase commitments | 31.6 billion | 6 |
| 2024-01-31 | FY2023 | Short-term lease payments | 3.2 billion | 6 |
| 2024-01-31 | FY2023 | Share repurchases | 62.2 billion | 6 |
| 2024-01-31 | FY2023 | senior unsecured notes carrying value | 12.9 billion | 6 |
| 2024-01-31 | FY2023 | revolving credit facilities | 10.0 billion | 6 |
| 2024-01-31 | FY2023 | R&D investment five years | more than $150 billion | 6 |
| 2024-01-31 | FY2023 | Operating lease assets | 2.9 billion | 6 |
| 2024-01-31 | FY2023 | operating cash flow | 101.7 billion | 6 |
| 2024-01-31 | FY2023 | Non-marketable equity securities | 28.8 billion | 6 |
| 2024-01-31 | FY2023 | Material purchase commitments | 45.9 billion | 6 |
| 2024-01-31 | FY2023 | Marketable equity securities | 6.0 billion | 6 |
| 2024-01-31 | FY2023 | International revenues pct 2023 | 53% | 6 |
| 2024-01-31 | FY2023 | Equity method investments | 1.7 billion | 6 |
| 2024-01-31 | FY2023 | Commercial paper outstanding | 0 | 6 |
| 2024-01-31 | FY2023 | cash and equivalents | 110.9 billion | 6 |
| 2024-01-31 | FY2023 | capital expenditures | 32.3 billion | 6 |
| 2023-10-25 | 2023-Q3 | Short-term debt financing program | 10.0 billion | 4 |
| 2023-10-25 | 2023-Q3 | Short-term contractual obligations | 29.4 billion | 4 |
| 2023-10-25 | 2023-Q3 | Senior unsecured notes outstanding | 12.9 billion | 4 |
| 2023-10-25 | 2023-Q3 | Revolving credit facilities | 10.0 billion | 4 |
| 2023-10-25 | 2023-Q3 | Repurchased shares (nine months) | 410 million | 4 |
| 2023-10-25 | 2023-Q3 | Repurchased shares | 122 million | 4 |
| 2023-10-25 | 2023-Q3 | Paid clicks change | 7% | 4 |
| 2023-10-25 | 2023-Q3 | Operating lease expenses (including variable lease costs) | 3.4 billion | 4 |
| 2023-10-25 | 2023-Q3 | Operating lease assets | 2.4 billion | 4 |
| 2023-10-25 | 2023-Q3 | Material contractual obligations | 44.3 billion | 4 |
| 2023-10-25 | 2023-Q3 | Leases not yet commenced with future lease payments | 3.5 billion | 4 |
| 2023-10-25 | 2023-Q3 | Impressions change | -3% | 4 |
| 2023-10-25 | 2023-Q3 | Future lease payments under operating leases | 17.9 billion | 4 |
| 2023-10-25 | 2023-Q3 | Cost-per-impression change | 1% | 4 |
| 2023-10-25 | 2023-Q3 | Cost-per-click change | 4% | 4 |
| 2023-10-25 | 2023-Q3 | Cash, cash equivalents, and short-term marketable securities | 119.9 billion | 4 |
| 2023-10-25 | 2023-Q3 | Available for Class A and Class C share repurchases | 52.3 billion | 4 |
| 2023-10-25 | 2023-Q3 | Amount repurchased (nine months) | 46.2 billion | 4 |
| 2023-10-25 | 2023-Q3 | Amount repurchased | 15.9 billion | 4 |
| 2023-07-26 | 2023-Q2 | Other Bets revenues | 285 million | 2 |
| 2023-07-26 | 2023-Q2 | operating income | 21.8 billion | 2 |
| 2023-07-26 | 2023-Q2 | Operating cash flow (three months) | 28.7 billion | 2 |
| 2023-07-26 | 2023-Q2 | Operating cash flow (six months) | 52.2 billion | 2 |
| 2023-07-26 | 2023-Q2 | net income | 18.4 billion | 2 |
| 2023-07-26 | 2023-Q2 | Google Services revenues | 66.3 billion | 2 |
| 2023-07-26 | 2023-Q2 | Google Cloud revenues | 8.0 billion | 2 |
| 2023-07-26 | 2023-Q2 | diluted EPS | $1.44 | 2 |
| 2023-07-26 | 2023-Q2 | consolidated revenues | 74.6 billion | 2 |
| 2023-07-26 | 2023-Q2 | cash and equivalents and marketable securities | 118.3 billion | 2 |
| 2023-07-26 | 2023-Q2 | Capital expenditures (six months) | 13.2 billion | 2 |
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Guidance Tracking (latest per metric/period · 2/2)#
All management forecasts (guidance) and their later outcome. Types: fiscal-year targets as well as quarterly/half-year targets; per metric and period the most recent statement applies, older versions can be expanded. The status is checked automatically against the actuals reported later: open (period still running), met, beaten, missed. For ranges (“X to Y”) reaching the range counts. Logged neutrally, no estimate of our own, no assessment.
| For period | Guided on | Metric | Guided | Verdict | Direction | Source |
|---|---|---|---|---|---|---|
| FY2026 | 2026-02-04 | Capex | 175,000–185,000 | pending | initiated | 21 |
| FY2025 | 2025-10-29 | Capex | 91,000–93,000 | – | initiated | 19 |
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Development#
A condensed summary per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. Most recent period first, grouped by year; each text is written from the original report of that period, superscript numbers lead to the source.
FY2026
Alphabet reported revenues of $109.9 billion in Q1 2026 (+22% year-over-year) and $119.8 billion in Q2 2026 (+24% year-over-year), marking the 11th and 12th consecutive quarters of double-digit revenue growth, respectively 23 25. Google Cloud revenues accelerated from 63% growth in Q1 to 82% growth in Q2, reaching $20.0 billion and $24.8 billion, driven by demand for AI infrastructure and enterprise AI solutions 23 25. Operating income increased 30% in both quarters with operating margin expanding approximately 2 percentage points in each period, reaching 36.1% in Q1 and 34% in Q2 23 25. Net income reached $62.6 billion in Q1 (+81%) and $112.2 billion in Q2 (+298%); both periods included significant net unrealized gains on equity securities, with Q2 reflecting $99.0 billion in such gains from SpaceX and a private company 24 26. Alphabet completed acquisitions of Wiz for $29.5 billion and Intersect for $5.9 billion in March 2026, and raised approximately $49.6 billion through equity offerings in June 2026 to fund capital expenditures for AI infrastructure 24 25.
FY2025
Alphabet generated FY2025 revenues of $402.8 billion, a 15% increase year over year and the first time annual revenues exceeded $400 billion, driven by Google Services growth of 12% and Google Cloud growth of 36% 22. Operating income reached $129.0 billion, with full-year operating margin stable at 32% 22. Net income grew 32% to $132.2 billion, which included $24.1 billion in net gains on equity securities 22. Google Cloud's quarterly revenue accelerated from $12.3 billion in Q1 to $17.7 billion in Q4, a 48% year-over-year increase in the final quarter, with the full-year Cloud backlog reaching $155 billion 21 19. Capital expenditures totaled $91.4 billion for 2025, reflecting continued investment in AI and technical infrastructure, with 2026 guidance issued in the $175 to $185 billion range 21 22.
FY2024
Alphabet reported FY 2024 consolidated revenues of $350.0 billion, up 14% year over year, driven by Google Services revenue growth of $32.4 billion (12%) and Google Cloud revenue growth of $10.1 billion (31%) 14. Operating income increased 33% to $112.4 billion, with operating margin expanding to 32% from 27% in 2023 14. Net income rose 36% to $100.1 billion, with diluted EPS of $8.04 compared to $5.80 in 2023, the first year net income exceeded $100 billion 14. Google Cloud crossed $10 billion in quarterly revenue for the first time in Q2 2024 and reached $12.0 billion in Q4 2024, a 30% year-over-year increase 9 13. Alphabet initiated its first cash dividend program in April 2024 and repurchased $62.0 billion of shares during the year, while capital expenditures increased to $52.5 billion from $32.3 billion in 2023, reflecting investments in technical infrastructure for AI products and services 14.
FY2023
In fiscal year 2023, Alphabet reported consolidated revenues of $307.4 billion, a 9% increase year-over-year, driven by Google Services growth of $19.0 billion and Google Cloud growth of $6.8 billion 6. Revenue growth accelerated sequentially from 7% in Q2 2023 to 11% in Q3 and 13% in Q4, with advertising accounting for more than 75% of total revenues 1 3 5 6. Operating income rose 13% to $84.3 billion with the full-year operating margin expanding one percentage point to 27%, while net income grew 23% to $73.8 billion and diluted EPS increased 27% to $5.80 6. Google Cloud recorded full-year operating income of $1.7 billion compared to an operating loss of $1.9 billion in 2022 6. The year included a workforce reduction announced in January 2023 resulting in $2.1 billion in employee severance charges and an extension of estimated useful lives for servers and network equipment that reduced depreciation expense by $3.9 billion for the full year 5 6.
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Sources: official investor relations documents#
All original documents used, with type (e.g. quarterly, half-year, annual report), publication date and a direct link to the filing (EDINET/SEC/IR). Every superscript number in the report points to an entry in this list; so every figure can be traced back to its place in the original.
46 documents · 2016 – 2026 · SEC EDGAR (USA)
| # | Document type | Published | Link |
|---|---|---|---|
| #1 / #101 | 8-K-EX99.1 | 2023-07-25 | Open |
| #2 | 10-Q | 2023-07-26 | Open |
| #3 / #103 | 8-K-EX99.1 | 2023-10-24 | Open |
| #4 | 10-Q | 2023-10-25 | Open |
| #5 / #105 | 8-K-EX99.1 | 2024-01-30 | Open |
| #6 | 10-K | 2024-01-31 | Open |
| #7 / #107 | 8-K-EX99.1 | 2024-04-25 | Open |
| #8 | 10-Q | 2024-04-26 | Open |
| #9 / #109 | 8-K-EX99.1 | 2024-07-23 | Open |
| #10 | 10-Q | 2024-07-24 | Open |
| #11 / #111 | 8-K-EX99.1 | 2024-10-29 | Open |
| #12 | 10-Q | 2024-10-30 | Open |
| #13 / #113 | 8-K-EX99.1 | 2025-02-04 | Open |
| #14 | 10-K | 2025-02-05 | Open |
| #15 / #115 | 8-K-EX99.1 | 2025-04-24 | Open |
| #16 | 10-Q | 2025-04-25 | Open |
| #17 / #117 | 8-K-EX99.1 | 2025-07-23 | Open |
| #18 | 10-Q | 2025-07-24 | Open |
| #19 / #119 | 8-K-EX99.1 | 2025-10-29 | Open |
| #20 | 10-Q | 2025-10-30 | Open |
| #21 | 8-K-EX99.1 | 2026-02-04 | Open |
| #22 | 10-K | 2026-02-05 | Open |
| #23 / #123 | 8-K-EX99.1 | 2026-04-29 | Open |
| #24 | 10-Q | 2026-04-30 | Open |
| #25 / #125 | 8-K-EX99.1 | 2026-07-22 | Open |
| #26 | 10-Q | 2026-07-23 | Open |
Older sources (+20)
| # | Document type | Published | Link |
|---|---|---|---|
| #201 | 10-Q | 2016-05-03 | Open |
| #202 | 10-Q | 2016-08-04 | Open |
| #203 | 10-Q | 2016-11-03 | Open |
| #204 | 10-K | 2017-02-03 | Open |
| #208 | 10-K | 2017-02-03 | Open |
| #205 | 10-Q | 2017-05-02 | Open |
| #206 | 10-Q | 2017-07-25 | Open |
| #207 | 10-Q | 2017-10-27 | Open |
| #209 | 10-Q | 2018-02-06 | Open |
| #210 | 10-K | 2019-02-05 | Open |
| #213 | 10-K | 2019-02-05 | Open |
| #211 | 10-Q | 2019-07-26 | Open |
| #212 | 10-Q | 2019-10-29 | Open |
| #217 | 10-K | 2020-02-04 | Open |
| #214 | 10-Q | 2020-04-29 | Open |
| #215 | 10-Q | 2020-07-31 | Open |
| #216 | 10-Q | 2020-10-30 | Open |
| #218 | 10-Q | 2021-10-27 | Open |
| #219 | 10-K | 2022-02-02 | Open |
| #220 | 10-Q | 2022-04-27 | Open |
FAQ#
Is there a management forecast (guidance) for FY2026?
Yes. Management has issued targets for FY2026, including Capex. The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.
Does Alphabet Inc. pay a dividend?
The filings report on the dividend; most recent entry: dividends paid $5.3 billion (2025-Q3) (as reported, no assessment of our own). Details with source links are in the report chapters.
Where can I find the official investor relations documents of Alphabet Inc.?
The sources chapter links all 58 original filings used (SEC filings) with type, publication date and a direct link; every figure in the report carries a source number.
More reports#
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