ALPHABET INC. (CLASS A) · NASDAQ: GOOGL
Alphabet Inc. (Class A) (GOOGL) Stock Research
Research Alphabet Inc. (Class A) (GOOGL) earnings, business trends, valuation context, institutional ownership, risks, and the next investor checkpoints.
- Latest financial period
- Q2 2026
- Latest filing
- Jul 23, 2026
- Research updated
- Sep 15, 2026
01
Reported evidence
Latest GOOGL financial snapshot
Q2 2026 · filed Jul 23, 202602
Latest filing analysis
What changed in the latest reported period
Q2 2026 revenue reached $119.80 billion, up 24% from $96.43 billion a year earlier.
Google Search & other revenue increased 17% to $63.27 billion, while YouTube advertising revenue rose 13% to $11.06 billion.
Google Cloud revenue increased 82% to $24.77 billion and Cloud operating income rose to $8.81 billion from $2.83 billion.
GAAP operating income increased 30% to $40.77 billion and operating margin expanded to 34% from 32%.
GAAP net income was $112.19 billion, primarily reflecting $99.0 billion of net gains on equity securities; this non-operating gain makes EPS less comparable with the prior year.
03
BasisPilot
What matters for GOOGL now
Search growth and AI adoption
Google Search & other revenue rose 17% to $63.27 billion. The key test is whether AI-driven query growth and ad monetization can offset higher infrastructure costs and competitive pressure.
Evidence checkpointGoogle Cloud scale
Cloud revenue grew 82% to $24.77 billion and segment operating income reached $8.81 billion. Backlog totaled $519.5 billion, with $513.9 billion related to Cloud.
Evidence checkpointAI infrastructure spending
Q2 capital expenditures were $44.9 billion and purchase commitments and other contractual obligations totaled $811.0 billion at June 30, 2026. Returns on that capacity remain a central checkpoint.
Evidence checkpointEarnings quality
Q2 net income included $99.0 billion of net gains on equity securities. Operating income and cash flow provide a cleaner view of recurring business performance than reported EPS alone.
Evidence checkpointRegulation and capital structure
Alphabet paid a previously accrued $5.2 billion Android antitrust fine in July and raised equity and debt during Q2 to support AI infrastructure and general corporate purposes.
Evidence checkpoint04
Revenue mix
How Alphabet Inc. (Class A) makes money
05
Historical filings
GOOGL earnings history
| Period | Revenue | YoY | EPS | Filed |
|---|---|---|---|---|
| Q2 2026 | $119.8B | 24.2% | 9.11 | Jul 23, 2026 |
| CY2025Q1 | $90.2B | 12% | 2.81 | Apr 25, 2025 |
06
Valuation context
GOOGL valuation
Evaluate GOOGL through revenue growth, margins, cash generation and the expectations implied by the market price. BasisPilot does not display an undated valuation multiple.
07
SEC 13F
Institutional ownership
15
BasisPilot Insights
Latest Alphabet Inc. (Class A) research
No matching BasisPilot Insight has been published yet.
14
Decision support
Risks and next checkpoints
Search and advertising revenue face competition from AI assistants, changing user behavior, platform shifts and advertiser demand.
Alphabet is committing substantial capital to AI infrastructure; slower utilization or monetization could reduce returns and free cash flow.
Antitrust, privacy and platform regulation can produce fines, mandated product changes and restrictions on distribution agreements.
Google Cloud growth depends on capacity deployment, customer usage and conversion of a large backlog into recognized revenue.
Reported earnings can be volatile because equity-security gains and losses flow through other income; compare operating results separately.
AI infrastructure commitments, financing backstops and long-term debt increase execution, counterparty and funding risks.
16
FAQ
GOOGL investor questions
What was Alphabet's Q2 2026 revenue?
Alphabet reported $119.80 billion of Q2 2026 revenue, up 24% year over year, and $40.77 billion of GAAP operating income.
How fast is Google Cloud growing?
Google Cloud revenue increased 82% to $24.77 billion and segment operating income rose to $8.81 billion from $2.83 billion.
Why is GOOGL's Q2 EPS difficult to compare?
Q2 net income included $99.0 billion of net gains on equity securities, largely unrealized. Operating income and cash flow therefore provide cleaner measures of recurring performance than quarterly EPS alone.
Is Google Search still growing?
Yes. Google Search & other revenue increased about 17% to $63.27 billion, supported by query growth, advertiser spending and improvements in ad formats and delivery.
Are GOOGL 13F holdings real-time?
No. Form 13F reports delayed quarter-end positions for qualifying managers and securities; it is not a real-time trading record or complete portfolio.
What should GOOGL investors monitor next?
Key checkpoints are Search and AI monetization, Cloud revenue and profit, returns on AI infrastructure, regulatory developments, and earnings volatility from equity holdings.
17
Provenance
Sources and methodology
Primary SEC filings and issuer releases take precedence. Financial, market, ownership and page-update dates are shown separately, while historical values retain their original reporting period.