Alphabet Announces First Quarter 2026 Results
MOUNTAIN VIEW, Calif. – April 29, 2026 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended March 31, 2026.
- Consolidated Alphabet revenues increased 22%, or 19% in constant currency, to $109.9 billion, reflecting strong performance across the business and our 11th consecutive quarter of double-digit growth.
- Google Services revenues increased 16% to $89.6 billion, led by 19% growth in Google Search & other, 19% in Google subscriptions, platforms, and devices, and 11% in YouTube ads.
- Google Cloud saw a meaningful acceleration in growth as revenues increased 63% to $20.0 billion, led by an increase in Google Cloud Platform (GCP) across enterprise AI Solutions and enterprise AI Infrastructure, as well as core GCP services.
- Consolidated Alphabet operating income increased 30% and operating margin expanded by 2 percentage points to 36.1%.
- Other income reflected a net gain of $37.7 billion, primarily the result of net unrealized gains on our non-marketable equity securities.
- Net income increased 81% and EPS increased 82% to $5.11.
- The company announced a 5% increase to the dividend, resulting in a quarterly cash dividend of $0.22.
Sundar Pichai, CEO of Alphabet and Google, said: “2026 is off to a terrific start. Our AI investments and full stack approach are lighting up every part of the business. Search had a strong quarter with AI experiences driving usage, queries at an all time high, and 19% revenue growth. Google Cloud revenues grew 63% with backlog nearly doubling quarter on quarter to over $460 billion. This was our strongest quarter ever for our consumer AI plans, driven by the Gemini App. Overall the number of paid subscriptions has now reached 350 million, with YouTube and Google One being the key drivers. Gemini Enterprise has great momentum with 40% quarter on quarter growth in paid monthly active users. And, finally, I’m pleased to see Waymo surpass 500,000 fully autonomous rides a week.
These outstanding results are built on our differentiated, full stack approach. Our first-party models, like Gemini, are now processing more than 16 billion tokens per minute via direct API use by our customers, up 60% from last quarter.
It’s really exciting to see how our AI investments are delivering value for our users, customers and business.”
Q1 2026 Financial Highlights (unaudited)
The following table summarizes our consolidated financial results for the quarter ended March 31, 2025 and 2026 (in millions, except for per share information and percentages).
| Quarter Ended March 31, | ||
| 2025 | 2026 | |
| Revenues | $90,234 | $109,896 |
| Change in revenues year over year | 12 % | 22 % |
| Change in constant currency revenues year over year(1) | 14 % | 19 % |
| Operating income | $30,606 | $39,696 |
| Operating margin | 34 % | 36 % |
| Other income (expense), net | $11,183 | $37,716 |
| Net income | $34,540 | $62,578 |
| Diluted net income per share | $2.81 | $5.11 |
(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.
Q1 2026 Supplemental Information (in millions, except for number of employees; unaudited)
Revenues, Traffic Acquisition Costs (TAC), and Number of Employees
| Quarter Ended March 31, | ||
| 2025 | 2026 | |
| Google Search & other | $50,702 | $60,399 |
| YouTube ads | 8,927 | 9,883 |
| Google Network | 7,256 | 6,971 |
| Google advertising | 66,885 | 77,253 |
| Google subscriptions, platforms, and devices | 10,379 | 12,384 |
| Google Services total | 77,264 | 89,637 |
| Google Cloud | 12,260 | 20,028 |
| Other Bets | 450 | 411 |
| Hedging gains (losses) | 260 | (180) |
| Total revenues | $90,234 | $109,896 |
| Total TAC | $13,748 | $15,228 |
| Number of employees | 185,719 | 194,668 |
Segment Operating Results
| Quarter Ended March 31, | ||
| Operating income (loss): | 2025 | 2026 |
| Google Services | $32,682 | $40,589 |
| Google Cloud | 2,177 | 6,598 |
| Other Bets | (1,226) | (2,100) |
| Alphabet-level activities | (3,027) | (5,391) |
| Total income from operations | $30,606 | $39,696 |
(1) Alphabet-level activities primarily reflect expenses related to our shared AI research and development.
Additional Information Relating to the Quarter Ended March 31, 2026 (unaudited)
Issuance of Senior Unsecured Notes
In the first quarter of 2026, we issued senior unsecured notes for net proceeds of $31.1 billion, to be used for general corporate purposes.
Dividend Program
On April 27, 2026, Alphabet’s Board of Directors declared a quarterly cash dividend of $0.22 per share, representing a 5% increase from the previous quarterly dividend of $0.21 per share. The dividend is payable on June 15, 2026 to stockholders of record for each of the Company’s Class A, Class B, and Class C shares as of June 8, 2026.
Webcast and Conference Call Information
A live audio webcast of our first quarter 2026 earnings release call will be available on YouTube at https:// www.youtube.com/watch?v=LPJoiDiVkTI. 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, 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 March 31, 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 April 29, 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.