Results
6Consolidated Alphabet revenues increased 24%, or 23% in constant currency, to $119.8 billion, reflecting strong performance across the business and our 12th consecutive quarter of double-digit revenue growth.
4Google Services revenues increased 15% to $94.5 billion, led by 17% growth in Google Search & other, 15% in Google subscriptions, platforms, and devices, and 13% in YouTube ads.
5Google Cloud saw a meaningful acceleration in growth as revenues increased 82% to $24.8 billion, led by an increase in Google Cloud Platform (GCP) across enterprise AI Solutions and enterprise AI Infrastructure, as well as core GCP services.
3Consolidated Alphabet operating income increased 30% and operating margin expanded by 2 percentage points to 34%.
7Other income reflected a net gain of $98.0 billion, primarily the result of net unrealized gains on our equity securities.
2Net income available to common stockholders increased 298% and EPS increased 294% to $9.11.
Management commentary
Sundar Pichai, CEO of Google and Alphabet, said: “Our AI investments are redefining what’s possible across every part of our business.
Results
1Q2 was an amazing quarter, with Alphabet revenues growing 24% year-over-year and Google Cloud revenues accelerating to 82% growth, driven by demand for AI infrastructure and AI solutions.
8It’s great to see wide adoption of Gemini Enterprise, with nearly 90% of the Fortune 100 using it.
Management commentary
We have exciting momentum across the board.
Our popular AI features are driving Search query growth.
Gemini models now process 22 billion API tokens per minute and the Gemini App has 950 million monthly active users.
We are seeing strong demand for our security solutions, and our new Gemini 3.5 Flash Cyber delivers highly cost-efficient performance at the frontier.
And month over month, people turn to YouTube for major world events, with over 1.7 billion unique viewers watching World Cup-related videos during the FIFA World Cup 2026 TM .
These outstanding results show that our differentiated, full stack approach to AI is delivering real, measurable value for consumers, customers, and our partners globally.”
Results
Q2 2026 Financial Highlights (unaudited)
The following table summarizes our consolidated financial results for the quarters ended June 30, 2025 and 2026 (in millions, except for per share information and percentages).
Revenues, Traffic Acquisition Costs (TAC), and Number of Employees
Segment Operating Results
(1) Alphabet-level activities primarily reflect expenses related to our shared AI research and development.
Corporate events
Equity Capital Raise
In June 2026, we issued a combination of Class A stock and Class C stock and mandatory convertible preferred stock for aggregate net proceeds of $49.6 billion, to be used for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute.
Additionally, we entered into an equity distribution agreement with certain sales agents to sell up to $40.0 billion of our Class A stock and Class C stock from time to time through an At-the-Market Program (ATM Program).
The proceeds of the ATM Program are primarily intended to be used to meet tax obligations associated with employee equity grants.
As of June 30, 2026, we have not sold any shares under the ATM Program.
Issuance of Senior Unsecured Notes
In the second quarter of 2026, we issued senior unsecured notes for net proceeds of $20.3 billion, to be used for general corporate purposes.
Capital return
Preferred and Common Dividend Programs
In July 2026, the company's Board of Directors declared a quarterly cash dividend of $12.15 per share on each of our Series A and Series B mandatory convertible preferred stock (equivalent to approximately $0.60 per each of our Series A and Series B Depositary Shares) and a quarterly cash dividend of $0.22 per share on our Class A, Class B, and Class C stock.
The mandatory convertible preferred stock dividend is payable on August 15, 2026 to stockholders of record for each of the company's Series A and Series B shares as of August 1, 2026, and the common stock dividend is payable on September 14, 2026 to stockholders of record for each of the company's Class A, Class B, and Class C shares as of September 7, 2026.
36 boilerplate lines (safe-harbor disclaimer, contacts, call details) are set aside.