Alphabet's second-quarter 2026 revenue rose 24% to $119.8 billion while Google Cloud grew 82%

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 US-listed companies file with the SEC, on Jul 23, 2026, a day after announcing results for the quarter ended Jun 30, 2026. Revenue was $119.8 billion, up 24% from $96.43 billion a year earlier, and operating income rose 30% to $40.77 billion from $31.27 billion. Diluted earnings per common share were $9.11 against $2.31.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12

Google Cloud revenue was $24.77 billion, up 82% from $13.62 billion, and its operating income was $8.81 billion against $2.83 billion. Alphabet said Google Cloud's growth came primarily from Google Cloud Platform, largely from infrastructure and platform services, and that it began recognizing revenue from its TPU system supply agreements in the quarter, with the significant majority to be recognized in 2027. Revenue backlog, meaning customer commitments not yet recognized as revenue, was $519.5 billion on Jun 30, 2026, of which $513.9 billion related to Google Cloud. Chief executive Sundar Pichai said in the earnings release that Gemini models were processing 22 billion API tokens per minute, that the Gemini app had 950 million monthly active users and that nearly 90% of the Fortune 100 used Gemini Enterprise. He also named a new model, Gemini 3.5 Flash Cyber, which he said delivers highly cost-efficient performance at the frontier.13^,14^,15^,16^,17^,18^,19^,20^,21^,22

Capital expenditures, which the 10-Q says primarily reflected investments in technical infrastructure, were $44.9 billion in the quarter; the earnings release's cash flow statement shows purchases of property and equipment of $44.92 billion, against $22.45 billion a year earlier. Operating cash flow was $39.1 billion; the company's own non-GAAP free cash flow measure, operating cash flow less capital expenditures, was negative $5.86 billion for the quarter. In June 2026 Alphabet issued Class A and Class C stock and mandatory convertible preferred stock for aggregate net proceeds of $49.6 billion, which it said were to be used for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute. On Jun 4, 2026 it completed an underwritten public offering of Class A and Class C shares and, concurrently, a $10.0 billion private placement of shares to an affiliate of Berkshire Hathaway Inc. In the quarter it also issued senior unsecured notes for net proceeds of $20.3 billion. On Aug 10, 2026, after the 10-Q was filed, it closed an underwritten public offering of $25 billion aggregate principal amount of US dollar-denominated senior notes. Alphabet-level activities, which the filing says primarily reflect expenses for shared AI research and development, had an operating loss of $5.79 billion, against $3.37 billion a year earlier.23^,24^,25^,26^,27^,28^,29^,30^,31^,32^,1^,33^,34

Net income was $112.19 billion against $28.2 billion a year earlier; after $86 million of preferred stock dividends, net income available to common stockholders was $112.11 billion. Other income, net was $98.0 billion, up from $2.66 billion, and included $99.0 billion of net gains on equity securities, which the filing ties primarily to unrealized gains from SpaceX and a private company. The earnings release put the gain's effect at $21.9 billion on the tax provision, $77.1 billion on net income and $6.26 on diluted earnings per common share.35^,36^,37^,38^,39^,40

Our records hold the 10-Q's discussion and notes, and keep one value for each period, the latest filed, so they cannot show whether year-earlier figures were restated.41^,42