Alphabet Inc. reported revenue of $127.6 billion for the quarter ended Sept. 30, 2026, up 25% from a year earlier. The company released the results Oct. 28, 2026, in a filing with the Securities and Exchange Commission.
Alphabet said operating income rose 30% to $40.6 billion, with an operating margin of 31.8%. Net income available to common stockholders was $26.2 billion, or $2.12 per diluted share. A year earlier, the figures were $35.0 billion and $2.87 per share.
| Measure | 2025 | 2026 |
|---|---|---|
| Revenues | $102,346 | $127,577 |
| Operating income | $31,228 | $40,576 |
| Other income (expense), net | $12,759 | $(8,221) |
| Net income available to common stockholders | $34,979 | $26,170 |
| Diluted net income per common share | $2.87 | $2.12 |
Google Cloud revenue rose 103% to $30.7 billion, up from $15.2 billion a year earlier. Alphabet said the growth was led by Google Cloud Platform, across enterprise artificial intelligence infrastructure and AI solutions, as well as core cloud services. It also said sales of TPU systems were a meaningful contributor.
Google Cloud operating income was $11.1 billion, compared with $3.6 billion a year earlier. Google Services revenue increased 11% to $96.3 billion. Within that segment, Google Search & other revenue grew 12% to $63.4 billion.
The company said the year-over-year growth rate in Search queries was the highest in the last five years. Sundar Pichai, CEO of Google and Alphabet, said in the release, “We had a strong quarter and are now on a half-trillion dollar revenue run rate.” He also said the Gemini app has reached one billion users, and that the company’s first-party model APIs are processing nearly 32 billion tokens per minute.
Other income (expense), net was a loss of $8.2 billion, compared with income of $12.8 billion in the same quarter of 2025. The company’s breakdown lists a loss of $8.7 billion on equity securities, compared with a gain of $10.7 billion a year earlier.
A footnote says the net effect of that equity securities loss decreased net income by $6.7 billion and diluted earnings per share by $0.55. It adds that changes in the value of the company’s investments could significantly contribute to volatility in this line in future periods.
Spending on property and equipment was $51.4 billion in the quarter, up from $24.0 billion a year earlier. Net cash provided by operating activities was $42.3 billion. Alphabet reported free cash flow, which it defines as operating cash flow minus capital spending, of negative $9.1 billion for the quarter.
The company said it issued senior unsecured notes with net proceeds of $28.7 billion in the quarter, to be used for general corporate purposes. Under its at-the-market program, it issued 12 million Class A shares for net proceeds of $4.3 billion and 24 million Class C shares for $8.1 billion. The company said $27.6 billion remained available for future issuance under the program.
Alphabet’s cash flow statement shows no stock repurchases in the quarter, compared with $11.5 billion a year earlier. Its board declared a quarterly cash dividend of $0.22 per share on Class A, Class B and Class C stock. It is payable Dec. 14, 2026, to stockholders of record as of Dec. 7, 2026.
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