Filing Flows › Alphabet (GOOGL) › Q2 2026 › vs Q2 2025
Alphabet (GOOGL) Q2 2026 vs Q2 2025 (year over year)
Alphabet's revenue rose $23.4B (+24%) from $96.4B in Q2 2025 to $119.8B in Q2 2026. The biggest changes: Google Services +$12.0B (+15%); Google Cloud +$11.1B (+82%); Other Bets +$9.0M (+2%). Operating margin 34.0% against 32.4% (+1.6 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 34.0% | 32.4% | +1.6 pts |
| Net margin | 93.7% | 29.2% | +64.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Google Services | $94.5B | $82.5B | $12.0B | +15% |
| Google Cloud | $24.8B | $13.6B | $11.1B | +82% |
| Other Bets | $382M | $373M | $9.0M | +2% |
| Revenue | $119.8B | $96.4B | $23.4B | +24% |
| Other income, net | $98.0B | $2.7B | $95.3B | 37× |
| Operating profit | $40.8B | $31.3B | $9.5B | +30% |
| Costs & expenses | $79.0B | $65.2B | $13.9B | +21% |
| Pre-tax earnings | $138.8B | $33.9B | $104.8B | +309% |
| Cost of revenue | $45.9B | $39.0B | $6.9B | +18% |
| Research & development | $18.2B | $13.8B | $4.4B | +32% |
| Sales & marketing | $8.4B | $7.1B | $1.3B | +18% |
| General & admin | $6.5B | $5.2B | $1.3B | +24% |
| Net earnings | $112.2B | $28.2B | $84.0B | +298% |
| Income tax | $26.6B | $5.7B | $20.8B | +363% |
| Depreciation & amortization | $7.5B | $5.1B | $2.3B | +46% |
| Share-based compensation | $8.0B | $6.0B | $2.0B | +33% |
| Working capital & other | $88.6B | $11.6B | $77.0B | +665% |
| Operating cash flow | $39.1B | $27.7B | $11.3B | +41% |
| Capital expenditures | $44.9B | $22.4B | $22.5B | +100% |
| Negative free cash flow (OCF − capex) | $5.9B | −$5.3B | $11.2B | — |
Questions
How much did Alphabet's revenue grow year over year in Q2 2026?
Alphabet's revenue rose $23.4B (+24%) from $96.4B in Q2 2025 to $119.8B in Q2 2026.
What drove Alphabet's revenue change in Q2 2026?
Google Services +$12.0B (+15%); Google Cloud +$11.1B (+82%); Other Bets +$9.0M (+2%).