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Alphabet Inc. (Class A) — Q2 2026 Earnings Slides
Alphabet Inc. (Class C) (GOOG) · 0 slides · Filed Oct 20, 2026
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Slide 1 — Q2 2026 Earnings
Q2 2026 Earnings July 22, 2026
Slide 2 — Note About Forward-Looking Statements
Note About Forward-Looking Statements and Non-GAAP Financial Measures Q2 2026 Earnings This presentation may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our Forms 10-K and 10-Q, including the risk factors. We undertake no obligation to update any forward-looking statement, except as required by law. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements. We present both GAAP and non-GAAP financial measures in this presentation. A reconciliation of non-GAAP to GAAP measures is included in this presentation and in the most recent earnings press release, which is distributed and available to the public through our Investor Relations website located at abc.xyz/investor.
Slide 3 — Shipping innovation at scale with incredible velocity
Shipping innovation at scale with incredible velocity 3 Nov 2025 May 2026 Gemini 3 Nano Banana Pro Gemini in Chrome updates Gemini 3.5 Flash Gemini Spark Google Antigravity Genie 3 for AI Ultra subscribers Gemini 3.1 Pro Gemini Omni
Slide 4 — +24%
Earnings Highlights Q2 2026 Earnings +24% Alphabet Q2 Y/Y revenue growth Alphabet +17% Search & Other Ads Q2 Y/Y revenue growth in Search Google Cloud +82% Q2 Y/Y revenue growth; $514B backlog ~22B Tokens per minute vs. 16B+ last quarter 1P Model APIs YouTube Ads +13% Q2 Y/Y revenue growth in YouTube Ads 950M Gemini App monthly active users Gemini App
Slide 5 — in Millions, except Percentages and EPS; unaudited
in Millions, except Percentages and EPS; unaudited Revenues Costs and Expenses: Cost of Revenues Research and Development Sales and Marketing General and Administrative Total Costs and Expenses Income from operations Other income (expense), net Income before income taxes Provision for income taxes Net income available to common stockholders Diluted EPS per Common Share $96,428 39,039 13,808 7,101 5,209 65,157 31,271 2,662 33,933 5,737 $28,196 $119,796 45,943 18,219 8,403 6,461 79,026 40,770 97,983 138,753 26,560 $112,107 $9.11 24% 18% 32% 18% 24% 21% 30% 3581% 309% 363% 298% 294% $2.31 Q2'25 Q2'26 Y/Y Q2 2026 Earnings Preferred stock dividends 86 - N/A
Slide 6 — in Millions, except Percentages; unaudited
$96,428 Q2’25 Q2’26 Y/Y Growth +14% +24% $100,000 $60,000 $70,000 $80,000 $90,000 $110,000 $120,000 in Millions, except Percentages; unaudited Q2 2026 Earnings Revenues ($MM) $0 $10,000 $20,000 $30,000 $40,000 $31,271 $40,770 Q2’25 Q2’26 Operating Margin 32.4% 34.0% $50,000 Operating Income ($MM) $119,796
Slide 7 — in Millions, except Percentages; unaudited
in Millions, except Percentages; unaudited $0 Q2’25 Q2’26 Operating Expenses ($MM) Sales & Marketing Research & Development General & Administrative $0 $10,000 $20,000 $30,000 $40,000 $45,943 Q2’25 Q2’26 Cost of Revenues ($MM) $16,179 $14,705 Total TAC Other Cost of Revenues Y/Y Growth +10% +18% Y/Y Growth +20% +27% $10,000 $20,000 $30,000 $40,000 $7,101 $8,403 $18,219 $13,808 $33,083 $50,000 $50,000 $5,209 $6,461 $24,334 $29,764 Q2 2026 Earnings $26,118 $39,039
Slide 8 — Revenues ($MM)
$40,000 Q2’25 Q2’26 Revenues ($MM) Operating Income ($MM) $60,000 $80,000 $100,000 $82,543 Google Network Google Search & Other YouTube Ads Subscriptions, Platforms & Devices $54,190 $9,796 $7,354 $11,055 $63,271 $7,303 Y/Y Growth +12% +15% Operating Margin 40.1% 41.8% +15% Y/Y -1% Y/Y +13% Y/Y +17% Y/Y $10,000 Q2’25 Q2’26 $20,000 $30,000 $40,000 $33,063 $94,540 in Millions, except Percentages; unaudited $11,203 $12,911 Q2 2026 Earnings $39,544
Slide 9 — Operating Income ($MM)
Q2’25 Q2’26 Operating Income ($MM) $2,000 $4,000 $6,000 $2,826 $8,814 Operating Margin 20.7% 35.6% $0 Q2’25 Q2’26 Revenues ($MM) $13,624 $24,768 Y/Y Growth +32% +82% $8,000 $10,000 $15,000 $20,000 $25,000 $10,000 in Millions, except Percentages; unaudited Q2 2026 Earnings
Slide 10 — Capital Expenditures ($MM)
$5,000 Capital Expenditures ($MM) $20,000 $25,000 $30,000 Y/Y Growth $35,000 $40,000 in Millions, except Percentages; unaudited Q2 2026 Earnings Q2’25 $22,446 +70% $45,000 Q3’25 +83% $23,953 Q4’25 +95% $27,851 Q1’26 +107% $35,674 $44,924 +100% Q2’26
Slide 11 — in Millions, except Percentages; unaudited
Free Cash Flow Purchases of property and equipment Net cash provided by operating activities Trailing Twelve Months Free Cash Flow Q2’26 Y/Y 41% NM** -20% 100% Q2'26 45,790 $64,429 (35,674) in Millions, except Percentages; unaudited Q2 2026 Earnings Q2'25 Q3'25 27,747 $66,728 (22,446) $5,301 Q4'25 48,414 $73,552 (23,953) $24,461 Q1'26 52,402 $73,266 (27,851) $24,551 *Non-GAAP measure. See following slide for reconciliation of GAAP to Non-GAAP measures $10,116 39,069 (44,924) ($5,855) $53,273 **NM = Not Meaningful
Slide 12 — in Millions, except Percentages; unaudited
Free Cash Flow Less: purchases of property and equipment Net cash provided from operating activities Net cash provided from operating activities - TTM Less: purchases of property and equipment - TTM Free Cash Flow - TTM Reconciliation of GAAP to Non-GAAP Financial Information *TTM = Trailing Twelve Months We provide non-GAAP free cash flow for the current quarter and trailing twelve months (“TTM”) because it is a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can be used for strategic opportunities, including investing in our business and acquisitions, and to strengthen our balance sheet. ●Free cash flow: We define free cash flow as net cash provided by operating activities less capital expenditures. ●TTM free cash flow: We define trailing twelve months free cash flow as net cash provided by operating activities less capital expenditures for the most recent twelve consecutive months. in Millions, except Percentages; unaudited in millions; unaudited Q2 2026 Earnings 39,113 (14,276) 24,837 36,150 (17,197) 18,953 30,698 (13,061) 17,637 27,747 (22,446) 5,301 (66,980) 133,708 66,728 48,414 (23,953) 24,461 151,424 73,552 (77,872) 52,402 (27,851) 24,551 164,713 73,266 (91,447) Q1’25 Q3’24 Q2’25 Q3’25 Q4’25 Q1’26 Q4’24 Q2’26 45,790 (35,674) 10,116 174,353 64,429 (109,924) 39,069 (44,924) (5,855) 185,675 (132,402) 53,273