Alphabet reported first-quarter 2025 revenue of $90.23 billion, with Google Cloud up 28%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Alphabet, which owns Google DeepMind and the Google businesses, reported revenue of $90.23 billion for the quarter ended Mar 31, 2025, up 12% from $80.54 billion a year earlier, in its quarterly report on Form 10-Q filed Apr 25, 2025. Operating income rose 20% to $30.61 billion from $25.47 billion. Net income rose 46% to $34.54 billion from $23.66 billion, and diluted earnings per share were $2.81 against $1.89. Net income includes other income, net, of $11.18 billion against $2.84 billion a year earlier, and the 10-Q says the quarter's figure included an $8.0 billion unrealized gain on non-marketable equity securities, related to an investment in a private company. The filing ties the gains on equity securities to fair value adjustments after observable transactions.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13^,14^,15^,16^,17

Google Cloud's revenue rose 28% to $12.26 billion from $9.57 billion, and its operating income was $2.18 billion against $900 million. The 10-Q put the growth down to Google Cloud Platform, largely infrastructure services, and names AI infrastructure, the Vertex AI platform and Gemini for Google Cloud among the AI offerings it gives access to. Revenue backlog, the contracted future services not yet booked as revenue, stood at $92.4 billion at the end of the quarter, primarily related to Google Cloud, and the company said it expected to recognize about 55% of it over the following 24 months. In the earnings release of Apr 24, 2025, chief executive Sundar Pichai said Alphabet had rolled out Gemini 2.5, which he called its most intelligent AI model, and that AI Overviews had 1.5 billion users a month.18^,19^,20^,21^,22^,23^,24^,25^,26^,27^,28

Capital expenditures were $17.2 billion in the quarter, against $12.0 billion a year earlier, and the filing says they primarily reflected technical infrastructure. The 10-Q said Alphabet expected to increase its investment in technical infrastructure relative to 2024, in particular for AI products and services. In March 2025 Alphabet agreed to acquire Wiz, a cloud security platform, in an all-cash transaction the filing puts at $32.0 billion, subject to closing adjustments, and said it expected the acquisition to close in 2026. Wiz would become part of the Google Cloud segment on closing.29^,30^,31^,32^,33

Alphabet's annual report for 2025 later put full-year revenue at $402.84 billion, against $350.02 billion for 2024.34^,35

In our records, we hold the 10-Q's management discussion and notes to the financial statements but not its other exhibits, and we cannot tell whether the year-earlier figures were restated, since we keep one value for each period.36^,37