Financial disclosures
Q2 2026 (quarter ended June 30, 2026) — reported July 22, 2026 · As of Oct 28, 2026 (Q3 2026 results are due after market close today, Oct 28, and are not yet reflected here)
Alphabet's second-quarter 2026 results showed a company whose cloud and AI businesses are driving results dramatically, while a one-time gain flattered the bottom line. Total revenue reached $119.8 billion, up 24% year over year, with growth accelerating across every major business line. Google Cloud was the standout, with revenue surging 82% to $24.8 billion as enterprise AI demand pushed Cloud's backlog past $500 billion; Cloud's operating income more than tripled to $8.8 billion. The core advertising business also stayed healthy, with Search & other revenue up 17% to $63.3 billion and YouTube ads revenue growing to $11.1 billion.
Net income came in at $112.1 billion, up roughly 298% from $28.2 billion a year earlier, with diluted EPS of $9.11 versus $2.31 — but a large share of that jump came from a $98.0 billion other-income gain, mainly unrealized mark-to-market gains on Alphabet's equity-security holdings, not from core operating performance. The dominant theme of the quarter was capital spending: capex hit $44.9 billion for the quarter, roughly double the prior year, and Alphabet raised full-year 2026 capex guidance to $195–205 billion, citing surging AI infrastructure and compute demand. To help fund this, Alphabet raised $49.6 billion in net equity proceeds in June 2026 and issued $20.3 billion in senior notes.
Alphabet's Q3 2026 results are scheduled for release after market close on October 28, 2026 — the same day this summary was compiled — so this page reflects Q2, the last quarter actually reported as of this writing.
Key figures
| Metric | Value |
|---|---|
| Total revenue | $119.8B (+24% YoY) |
| Net income (GAAP) | $112.1B — includes a ~$98.0B unrealized gain on equity holdings |
| Diluted EPS (GAAP) | $9.11 (vs. $2.31 YoY) |
| Google Cloud revenue | $24.8B (+82% YoY) |
| Google Cloud operating income | $8.8B (vs. $2.8B YoY) |
| Search & other revenue | $63.3B (+17% YoY) |
| YouTube ads revenue | $11.1B (vs. $9.8B YoY) |
| Capex (quarterly) | $44.9B (vs. $22.4B YoY) |
| FY2026 capex guidance | $195–205B (raised at this report) |