Filing Flows › Alphabet (GOOGL) › Q2 2026 › vs Q1 2026
Alphabet (GOOGL) Q2 2026 vs Q1 2026 (quarter over quarter)
Alphabet's revenue rose $9.9B (+9%) from $109.9B in Q1 2026 to $119.8B in Q2 2026. The biggest changes: Google Services +$4.9B (+5%); Google Cloud +$4.7B (+24%); Other Bets −$29.0M (-7%). Operating margin 34.0% against 36.1% (-2.1 pts).
Alphabet, Q2 2026: revenue $119.8B (+24% year over year), operating margin 34.0%, net earnings $112.2B, operating cash flow $39.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 34.0% | 36.1% | -2.1 pts |
| Net margin | 93.7% | 56.9% | +36.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Google Services | $94.5B | $89.6B | $4.9B | +5% |
| Google Cloud | $24.8B | $20.0B | $4.7B | +24% |
| Other Bets | $382M | $411M | −$29.0M | -7% |
| Revenue | $119.8B | $109.9B | $9.9B | +9% |
| Other income, net | $98.0B | $37.7B | $60.3B | +160% |
| Operating profit | $40.8B | $39.7B | $1.1B | +3% |
| Costs & expenses | $79.0B | $70.2B | $8.8B | +13% |
| Pre-tax earnings | $138.8B | $77.4B | $61.3B | +79% |
| Cost of revenue | $45.9B | $41.3B | $4.7B | +11% |
| Research & development | $18.2B | $17.0B | $1.2B | +7% |
| Sales & marketing | $8.4B | $7.6B | $797M | +10% |
| General & admin | $6.5B | $4.3B | $2.2B | +51% |
| Net earnings | $112.2B | $62.6B | $49.6B | +79% |
| Income tax | $26.6B | $14.8B | $11.7B | +79% |
| Depreciation & amortization | $7.5B | $6.7B | $811M | +12% |
| Share-based compensation | $8.0B | $6.8B | $1.2B | +18% |
| Working capital & other | $88.6B | $30.2B | $58.4B | +193% |
| Operating cash flow | $39.1B | $45.8B | −$6.7B | -15% |
| Capital expenditures | $44.9B | $35.7B | $9.2B | +26% |
| Negative free cash flow (OCF − capex) | $5.9B | −$10.1B | $16.0B | — |
Questions
How much did Alphabet's revenue grow quarter over quarter in Q2 2026?
Alphabet's revenue rose $9.9B (+9%) from $109.9B in Q1 2026 to $119.8B in Q2 2026.
What drove Alphabet's revenue change in Q2 2026?
Google Services +$4.9B (+5%); Google Cloud +$4.7B (+24%); Other Bets −$29.0M (-7%).