EL7.AI
StocksMedium•24 October 2026•
4 min read

Alphabet Revenue Rises 24% to $119.796 Billion in Second Quarter

Key Facts

1Alphabet revenue was $119.796 billion in the second quarter of 2026, up 24% year over year.
2Google Cloud revenue rose 82% to $24.768 billion in the second quarter.
3Google Cloud’s revenue backlog reached $513.9 billion on June 30, 2026.
4Capital expenditures were $80.6 billion in the first half of 2026, compared with $39.6 billion a year earlier.
5The date for discussing third-quarter results is October 28, 2026.

Alphabet reported revenue of $119.796 billion in the second quarter of 2026, up 24% year over year, for the period ended June 30. Revenue exceeded analysts’ average estimate of $117.06 billion, according to a FactSet poll cited by The Associated Press. These figures are second-quarter results, after an earlier draft incorrectly attributed the period’s revenue to the third quarter. The company’s third-quarter results were still scheduled for October 28, according to the date it announced. The available reading therefore focuses on second-quarter performance and cloud growth, not on results Alphabet had not reported as of October 24.

Google Cloud emerged as a key growth driver, with revenue rising to $24.768 billion from $13.624 billion in the same period a year earlier, an increase of 82%. CEO Sundar Pichai said Alphabet’s revenue growth was 24% and that cloud growth “accelerated to 82%,” attributing it to demand for AI infrastructure and solutions. The company said expansion spanned enterprise AI solutions, AI infrastructure and core GCP services. Google Cloud operating income also rose to $8.814 billion, compared with $2.826 billion a year earlier. That puts the revenue increase alongside a clear improvement in the division’s operating income over the same year-over-year comparison.

Google Cloud’s future revenue backlog stood at $513.9 billion on June 30, out of Alphabet’s total remaining performance obligations of $519.5 billion. The company said it expects to recognize slightly more than 50% of the total revenue backlog as revenue over the next twenty-four months. The balance indicates the scale of existing contractual obligations, but dates to the end of the second quarter and does not establish a new third-quarter figure. The earlier draft gave $514 billion as a third-quarter figure, while the company’s filing confirms that $513.9 billion was Google Cloud’s balance on June 30. Cloud growth remains tied, Pichai said, to enterprise demand for AI solutions and infrastructure.

Alphabet’s capital expenditures totaled $80.6 billion in the six months ended June 30, 2026, compared with $39.6 billion in the first half of 2025. The comparison shows higher spending on assets and capital investments in the first half, alongside Google Cloud revenue expansion and the demand for AI infrastructure described by the company. Alphabet also raised its 2026 capital expenditure forecast to a range of $195 billion to $205 billion, from its previous range of $180 billion to $190 billion. After the forecast update in July, shares fell about 3% in extended trading, according to Reuters. The increase in investment spending puts cloud growth in the context of the cost of building capacity to meet demand, without establishing the cash flow figures cited in the earlier draft.

Net income available to common shareholders was $112.107 billion in the second quarter, and diluted earnings per share were $9.11. The Associated Press said net income included a net gain of $98 billion, mostly from equity investments, and linked most of it to an investment in SpaceX after its public offering in June. That investment gain provides context for reading net income alongside revenue growth and the cloud business. In the market, Alphabet shares closed at $324.22 on October 22 and then at $320.21 on October 23, according to EL7 data. The available information did not include verified share prices for other technology companies, so the trading context here is limited to Alphabet shares.

Alphabet set October 28 for its conference call to discuss third-quarter 2026 results, at 1:30 p.m. Pacific Time, or 4:30 p.m. Eastern Time. As of October 24, the company had not announced those results. The call will be the next disclosure on third-quarter performance, after second-quarter results showed revenue of $119.796 billion and strong year-over-year growth in Google Cloud. The revenue, capital expenditure and cash flow figures described in the draft as third-quarter data are not supported by published results as of that date.