MOUNTAIN VIEW, Calif. – October 28, 2026 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended September 30, 2026.
- Consolidated Alphabet revenues increased 25% to $127.6 billion, reflecting strong performance across the business and our 13th consecutive quarter of double-digit revenue growth.
- Google Services revenues increased 11% to $96.3 billion, led by 12% growth in Google Search & other with the year-over-year Search query growth rate the highest it has been in the last five years.
- Google Cloud delivered record growth as revenues increased 103% to $30.7 billion, led by strong growth in Google Cloud Platform (GCP) across enterprise AI infrastructure and enterprise AI solutions, as well as core GCP services. TPU systems sales were also a meaningful contributor to revenue growth.
- Consolidated Alphabet operating income increased 30% and operating margin was 31.8%.
- Net income available to common stockholders was $26.2 billion and EPS was $2.12.
Sundar Pichai, CEO of Google and Alphabet, said:
“We had a strong quarter and are now on a half-trillion dollar revenue run rate. Our deep full stack approach is driving momentum across the business, with Alphabet revenues growing 25% year-over year.
Our AI investments are driving overall Search query growth, including commercial queries. In fact, our year-over-year query growth rate is the highest it’s been in the last five years.
Google Cloud revenues grew 103%, powered by huge demand for our AI infrastructure and AI solutions. We’re also seeing strong demand for our TPU systems across a wide range of customers.
Gemini 4 Argon and Carbon are now leading at the frontier. Overall, our first-party model APIs are now processing nearly 32 billion tokens per minute, more than four times what we processed a year ago.
On top of that, the Gemini app has reached one billion users—making it the fastest-growing product in Google’s history—and we surpassed 150 million YouTube Music and Premium subscribers globally, including trials.
We’re excited by the range of big opportunities ahead of us.”
Q3 2026 Financial Highlights (unaudited)
The following table summarizes our consolidated financial results for the quarters ended September 30, 2025 and 2026 (in millions, except for per share information and percentages).
| Quarter Ended September 30 | ||
| 2025 | 2026 | |
| Revenues | $102,346 | $127,577 |
| Changes in revenues year over year | 16% | 25% |
| Change in constant currency revenues year over year(1) | 15% | 25% |
| Operating income | $31,228 | $40,576 |
| Operating margin | 31% | 32% |
| 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 |
(1) Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details
Q3 2026 Supplemental Information (in millions, except for number of employees; unaudited)
Revenues, Traffic Acquisition Costs (TAC), and Number of Employees
| Quarter Ended September 30 | ||
| 2025 | 2026 | |
| Google Search & other | $56,567 | $63,350 |
| YouTube ads | 10,261 | 11,207 |
| Google Network | 7,354 | 7,455 |
| Google advertising | 74,182 | 82,012 |
| Google subscriptions, platforms and devices | 12,870 | 14,290 |
| Google Services total | 87,052 | 96,302 |
| Google Cloud | 15,157 | 30,709 |
| Other Bets | 344 | 372 |
| Hedging gains (losses) | (207) | 194 |
| Total Revenues | $102,346 | $127,577 |
| Total TAC | 14,876 | $16,366 |
| Number of employees | 190,167 | 204,757 |
Segment Operating Results
| Quarter Ended September 30 | ||
| 2025 | 2026 | |
| Operating income (loss): | ||
| Google Services | $33,527 | $39,157 |
| Google Cloud | 3,594 | 11,121 |
| Other Bets | (1,426) | (2,047) |
| Alphabet-level activities(1) | (4,467) | (7,655) |
| Total income from operations | $31,228 | $40,576 |
(1) Alphabet-level activities primarily reflect expenses related to our shared AI research and development.
Additional Information Relating to the Quarter Ended September 30, 2026 (unaudited)
At-the-Market Program
During the three months ended September 30, 2026, we issued 12 million shares of Class A stock for net proceeds of $4.3 billion and 24 million shares of Class C stock for net proceeds of $8.1 billion. As of September 30, 2026, $27.6 billion remained available for future issuance under the ATM Program.
Issuance of Senior Unsecured Notes
In the third quarter of 2026, we issued senior unsecured notes for net proceeds of $28.7 billion, to be used for general corporate purposes.
Preferred and Common Dividend Programs
In October 2026, the company’s Board of Directors declared a quarterly cash dividend of $15.63 per share on each of our Series A and Series B mandatory convertible preferred stock (equivalent to approximately $0.78 per share on each of our Series A and Series B Depositary Shares) and a quarterly cash dividend of $0.22 per share on our Class A, Class B, and Class C stock. The mandatory convertible preferred stock dividend is payable on November 15, 2026 to stockholders of record for each of the company’s Series A and Series B shares as of November 1, 2026, and the common stock dividend is payable on December 14, 2026 to stockholders of record for each of the company’s Class A, Class B, and Class C shares as of December 7, 2026.
Webcast and Conference Call Information
A live audio webcast of our third quarter 2026 earnings release call will be available on YouTube at https:// www.youtube.com/watch?v=X9mmCagxJTo. The call begins today at 1:30 PM (PT) / 4:30 PM (ET). This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at http://abc.xyz/investor.
We also provide announcements regarding our financial performance, including SEC filings, investor events, press and earnings releases, and blogs, on our investor relations website (http://abc.xyz/investor).
We also share Google news and product updates on Google’s Keyword blog at https://www.blog.google/ and News From Google page on X at x.com/NewsFromGoogle, and our executive officers may also use certain social media channels, such as X and LinkedIn, to communicate information about earnings results and company updates, which may be of interest or material to our investors.
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025 and our most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which are on file with the SEC and are available on our investor relations website at http://abc.xyz/investor and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, and may be set forth in other reports and filings we make with the SEC. All information provided in this release and in the attachments is as of October 28, 2026. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.
About Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: free cash flow; constant currency revenues; and percentage change in constant currency revenues. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our recurring core business operating results, such as our revenues excluding the effect of foreign exchange rate movements and hedging activities, which are recognized at the consolidated level. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to our historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business.
There are a number of limitations related to the use of non-GAAP financial measures. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance with GAAP. For more information on these non-GAAP financial measures, please see the sections captioned “Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow” and “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” included at the end of this release.