Alphabet reported $96.43 billion in revenue for the June 2025 quarter, with Google Cloud up 31.7% to $13.62 billion

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 filed its Form 10-Q (the quarterly report a listed US company files with the SEC) on Jul 24, 2025, reporting revenue of $96.43 billion for the quarter ended Jun 30, 2025, up 13.8% from $84.74 billion a year earlier. Net income was $28.2 billion, up 19.4% from $23.62 billion, and income from operations was $31.27 billion, up 14.0% from $27.43 billion. Diluted earnings per share were $2.31, against $1.89. Below operating income, other income, net was $2.66 billion, against $126 million; the filing tied the increase mainly to net unrealized gains on equity securities, from market-driven changes and fair value adjustments on observable transactions, and to higher net gains on debt securities.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13^,14^,15^,16

Google Cloud, whose Google Cloud Platform services give access to AI offerings that include Alphabet's AI infrastructure, the Vertex AI platform and Gemini for Google Cloud, had revenue of $13.62 billion, against $10.35 billion a year earlier. Management attributed the $3.3 billion increase mainly to growth in Google Cloud Platform, largely from infrastructure services. The earnings release of Jul 23, 2025 said the growth was led by core Google Cloud Platform products, AI infrastructure and generative AI solutions. The segment's operating income was $2.83 billion, against $1.17 billion, and the CEO said in the release that Cloud's annual revenue run-rate was more than $50 billion.17^,18^,19^,20^,21^,22^,23^,24

Capital expenditure was $22.4 billion in the quarter, which the filing said primarily reflected investments in technical infrastructure, and $39.6 billion in the first six months, against $25.2 billion a year earlier. In the release, the CEO said Alphabet was increasing its 2025 capital expenditure to approximately $85 billion. At Jun 30, 2025, leases that had not yet started, primarily related to data centers, carried $23.9 billion of future payments. Alphabet-level activities, the costs not allocated to the segments, had an operating loss of $3.37 billion, against $2.29 billion. The notes said these costs primarily included certain AI-focused shared research and development, including development costs of Alphabet's general AI models; corporate initiatives such as philanthropic activities; and shared corporate costs such as certain finance, human resource and legal costs, including certain fines and settlements.25^,26^,27^,28^,29^,30

Operating income also carried a $1.4 billion charge in Google Services for a settlement in principle of certain legal matters. The notes also record a $1.4 billion agreement in principle, reached in April 2025, to settle certain privacy matters. The filing also listed a pending acquisition: Alphabet said it had agreed in March 2025 to acquire Wiz, a cloud security platform, in an all-cash transaction that the filing stated as $32.0 billion, subject to closing adjustments, and expected it to close in 2026.31^,32^,33

Our records hold this report's revenue, operating income, net income and diluted earnings per share for the quarter, and the text of its management discussion and 15 numbered notes. They cannot tell whether the year-earlier figures were restated.34^,35^,36