What does Alphabet do?

Alphabet is the holding company of Google. According to its Form 10-K for 2025, Google Services earns money mainly from advertising on Google Search, YouTube and partner sites, plus subscriptions, Google Play and devices; Google Cloud sells cloud infrastructure, AI and Workspace services to businesses; and Other Bets, including Waymo, sells primarily autonomous transportation and internet services.

What was Alphabet's revenue in 2025?

Alphabet reported revenues of $402,836 million for 2025, the year ended December 31, 2025, in its Form 10-K filed on February 5, 2026. Income from operations was $129,039 million and net income was $132,170 million.

How much does Google Search make?

Alphabet reports a revenue line called Google Search & other, which also includes other Google-owned properties such as Gmail, Google Maps and Google Play. It was $224,532 million in 2025, according to the 10-K, and $123,670 million (unaudited) for the six months ended June 30, 2026, according to the 10-Q for that quarter.

How much does YouTube make?

YouTube ads revenues were $40,367 million in 2025, according to Alphabet's 10-K. Revenue from YouTube subscriptions such as YouTube TV, YouTube Music and Premium is reported within Google subscriptions, platforms, and devices ($48,030 million in 2025), which Alphabet does not break out by product.

How big is Google Cloud?

Google Cloud segment revenues were $58,705 million in 2025, with operating income of $13,910 million. For the six months ended June 30, 2026, revenues were $44,796 million (unaudited). Of Alphabet's $519.5 billion revenue backlog at June 30, 2026 (unaudited), $513.9 billion related to Google Cloud.

What is the difference between GOOGL and GOOG?

GOOGL is Alphabet's Class A stock, with one vote per share; GOOG is its Class C capital stock, which has no voting rights except as required by law. Alphabet's 10-K says the rights of the classes are otherwise identical. A third class, Class B, has 10 votes per share and converts to Class A on sale or transfer.

Sundar Pichai is Chief Executive Officer of Alphabet and Google LLC, and Anat Ashkenazi is Senior Vice President and Chief Financial Officer, according to Alphabet's Form 8-K filings of March and April 2026. John L. Hennessy is Chair of the Board, according to its 10-Q for the second quarter of 2026.

Does Alphabet pay a dividend or buy back stock?

Yes, it pays a dividend: in April 2026 the board declared a quarterly cash dividend of $0.22 per share, and in July 2026 it declared another $0.22 per share on its Class A, Class B and Class C stock along with a quarterly cash dividend of $12.15 per share on each series of its mandatory convertible preferred stock. Alphabet made no share repurchases in the first six months of 2026, and $69.5 billion remained available under its repurchase program as of June 30, 2026 (unaudited, according to its 10-Q for that quarter). In 2025 it repurchased $45.4 billion of Class A and Class C shares.

Where is Alphabet headquartered?

In Mountain View, California, according to its Form 10-K for 2025. Its principal executive offices are at 1600 Amphitheatre Parkway.

DalsnaFinance Account

Alphabet Inc. (Class A) $GOOGL

Communication Services · Interactive Media & Services · NASDAQ

Profile updated Oct 13, 2026 Figures as of Oct 11, 2026

S&P 500 Nasdaq-100 Dow Jones Russell 1000 California

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$333.14

-7.13 (-2.10%)

As of Oct 21, 2026, 12:12 PM EDT

Price history

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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Jul 4, 2026, the first target we tracked for GOOGL.

Key facts

52-week range (closes): $245.45 – $402.62 Lowest close Oct 14, 2025, highest May 13, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Next earnings: Oct 28, 2026, after the close · EPS forecast $2.94 Nasdaq earnings calendar, as of Oct 21, 2026
Fiscal year ends: December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since: Apr 3, 2006 · All S&P 500 changes
In the Nasdaq-100 since: before 2007 · All Nasdaq-100 changes
In the Dow since: Jun 29, 2026, replacing Verizon (VZ) · Honeywell stayed in the index and was renamed Honeywell Technologies after spinning off Honeywell Aerospace the same day. · All Dow changes
Analyst coverage: 14 open price targets from 14 firms: Argus Research, BMO Capital Markets, Cantor Fitzgerald, Citizens JMP, Evercore ISI, HSBC, Jefferies, JPMorgan, KeyBanc Capital Markets, RBC Capital Markets, Tigress Financial Partners, UBS, Wedbush, Wells Fargo Approved targets tracked here; see the analyst section below

Alphabet Inc. (Class A) (GOOGL) is trading down at $333.14 (-2.10%) on NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Communication Services sector.

Analyst price targets on GOOGL

Current price targets from 14 firms average $441, median $439, ranging from $380 to $515 — the average is 32% above the current $333. Each is tracked to its date and scored the same way a member's call is.

UBS $354 → $380 by Oct 2027 Neutral Oct 14, 2026 via Yahoo Finance · UBS's track record
HSBC $353 → $420 by Oct 2027 stated Buy Oct 12, 2026 via Finbold · HSBC's track record
Cantor Fitzgerald $353 → $420 by Oct 2027 stated Buy Oct 12, 2026 via Finbold · Cantor Fitzgerald's track record
JPMorgan $338 → $420 by Oct 2027 Overweight Oct 2, 2026 via Finbold · JPMorgan's track record
RBC Capital Markets $338 → $425 by Oct 2027 Oct 2, 2026 via Finbold · RBC Capital Markets's track record
KeyBanc Capital Markets $338 → $435 by Oct 2027 Overweight Oct 2, 2026 via Finbold · KeyBanc Capital Markets's track record
Tigress Financial Partners $342 → $485 by Sep 2027 Strong Buy Sep 24, 2026 via Yahoo Finance · Tigress Financial Partners's track record
Evercore ISI $347 → $450 by Sep 2027 Outperform Sep 17, 2026 via GuruFocus · Evercore ISI's track record
Citizens JMP $342 → $515 by Jul 2027 Market Outperform Jul 22, 2026 via GuruFocus · Citizens JMP's track record
Jefferies $347 → $445 by Jul 2027 Buy Jul 21, 2026 via Watcher Guru · Jefferies's track record
Wells Fargo $347 → $438 by Jul 2027 Overweight Jul 21, 2026 via TradingView · Wells Fargo's track record
BMO Capital Markets $347 → $455 by Jul 2027 Buy Jul 17, 2026 via TipRanks · BMO Capital Markets's track record

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Alphabet Inc. (Class A) revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Alphabet Inc. (Class A) annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$90.3B	$110.9B	$136.8B	$161.9B	$182.5B	$257.6B	$282.8B	$307.4B	$350.0B	$402.8B
Growth (year over year)	+20.4%	+22.8%	+23.4%	+18.3%	+12.8%	+41.2%	+9.8%	+8.7%	+13.9%	+15.1%
Gross profit	$55.1B	$65.3B	$77.3B	$90.0B	$97.8B	$146.7B	$156.6B	$174.1B	$203.7B	$240.3B
Gross margin	61.1%	58.9%	56.5%	55.6%	53.6%	56.9%	55.4%	56.6%	58.2%	59.7%
Operating income	$23.7B	$26.2B	$27.5B	$34.2B	$41.2B	$78.7B	$74.8B	$84.3B	$112.4B	$129.0B
Operating margin	26.3%	23.6%	20.1%	21.1%	22.6%	30.6%	26.5%	27.4%	32.1%	32.0%
Net income	$19.5B	$12.7B	$30.7B	$34.3B	$40.3B	$76.0B	$60.0B	$73.8B	$100.1B	$132.2B
Net margin	21.6%	11.4%	22.5%	21.2%	22.1%	29.5%	21.2%	24.0%	28.6%	32.8%
EPS (diluted)	$1.39	$0.90	$2.19	$2.46	$2.93	$5.61	$4.56	$5.80	$8.04	$10.81
Balance sheet
Cash and equivalents	$12.9B	$10.7B	$16.7B	$18.5B	$26.5B	$20.9B	$21.9B	$24.0B	$23.5B	$30.7B
Total assets	$167.5B	$197.3B	$232.8B	$275.9B	$319.6B	$359.3B	$365.3B	$402.4B	$450.3B	$595.3B
Total liabilities	$28.5B	$44.8B	$55.2B	$74.5B	$97.1B	$107.6B	$109.1B	$119.0B	$125.2B	$180.0B
Long-term debt	$3.94B	$3.94B	$3.95B	$3.96B	$13.9B	$14.8B	$14.7B	$11.9B	$10.9B	$46.5B
Shareholders' equity	$139.0B	$152.5B	$177.6B	$201.4B	$222.5B	$251.6B	$256.1B	$283.4B	$325.1B	$415.3B
Cash flow
Operating cash flow	$36.0B	$37.1B	$48.0B	$54.5B	$65.1B	$91.7B	$91.5B	$101.7B	$125.3B	$164.7B
Capital expenditure	$10.2B	$13.2B	$25.1B	$23.5B	$22.3B	$24.6B	$31.5B	$32.3B	$52.5B	$91.4B
Free cash flow	$25.8B	$23.9B	$22.8B	$31.0B	$42.8B	$67.0B	$60.0B	$69.5B	$72.8B	$73.3B
Dividends paid	$0	$0	—	—	—	—	$0	$0	$7.36B	$10.0B
Share buybacks	$3.69B	$4.85B	$9.07B	$18.4B	$31.1B	$50.3B	$59.3B	$61.5B	$62.2B	$45.7B

RevenueNet incomeNet margin (right axis, %)

Alphabet Inc. (Class A) quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$88.3B	$96.5B	$90.2B	$96.4B	$102.3B	$113.8B	$109.9B	$119.8B
Growth (year over year)	+15.1%	+11.8%	+12.0%	+13.8%	+15.9%	+18.0%	+21.8%	+24.2%
Gross profit	$51.8B	$55.9B	$53.9B	$57.4B	$61.0B	$68.1B	$68.6B	$73.9B
Gross margin	58.7%	57.9%	59.7%	59.5%	59.6%	59.8%	62.4%	61.6%
Operating income	$28.5B	$31.0B	$30.6B	$31.3B	$31.2B	$35.9B	$39.7B	$40.8B
Operating margin	32.3%	32.1%	33.9%	32.4%	30.5%	31.6%	36.1%	34.0%
Net income	$26.3B	$26.5B	$34.5B	$28.2B	$35.0B	$34.5B	$62.6B	$112.2B
Net margin	29.8%	27.5%	38.3%	29.2%	34.2%	30.3%	56.9%	93.7%
EPS (diluted)	$2.12	$2.14	$2.81	$2.31	$2.87	$2.82	$5.11	$9.11
Balance sheet
Cash and equivalents	$20.0B	$23.5B	$23.3B	$21.0B	$23.1B	$30.7B	$38.1B	$55.9B
Total assets	$430.3B	$450.3B	$475.4B	$502.1B	$536.5B	$595.3B	$703.9B	$922.0B
Total liabilities	$116.1B	$125.2B	$130.1B	$139.1B	$149.6B	$180.0B	$225.2B	$281.5B
Long-term debt	$12.3B	$10.9B	$10.9B	$23.6B	$21.6B	$46.5B	$77.5B	$98.2B
Shareholders' equity	$314.1B	$325.1B	$345.3B	$362.9B	$386.9B	$415.3B	$478.7B	$640.5B
Cash flow
Operating cash flow	$30.7B	$39.1B	$36.1B	$27.7B	$48.4B	$52.4B	$45.8B	$39.1B
Capital expenditure	$13.1B	$14.3B	$17.2B	$22.4B	$24.0B	$27.9B	$35.7B	$44.9B
Free cash flow	$17.6B	$24.8B	$19.0B	$5.30B	$24.5B	$24.6B	$10.1B	−$5.86B
Dividends paid	$2.46B	$2.44B	$2.43B	$2.54B	$2.54B	$2.54B	$2.54B	—
Share buybacks	$15.3B	$15.6B	$15.1B	$13.2B	$11.9B	$5.50B	$0	$0

From Alphabet Inc. (Class A)'s 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Alphabet Inc. (Class A) vs the Communication Services sector and the S&P 500

Alphabet Inc. (Class A)'s latest reported figures next to the median of the other 20 S&P 500 Communication Services companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Alphabet Inc. (Class A) compared with the median Communication Services company and the median S&P 500 company
Measure	Alphabet Inc. (Class A)	Communication Services (20 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	+15.1%	+6.8%	+7.0%
Net margin, latest fiscal year	32.8%	9.8%	12.9%
Share price change, 1 year	+32.2%	−3.3%	+6.8%

Alphabet Inc. (Class A): fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 21, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Alphabet Inc. (Class A) included, were fetched between 10:06 and 10:15 ET on October 21, 2026; the 1-year change compares that price with each company's last close on or before October 21, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 19/496, net margin 19/496, 1-year price change 19/490; the reasons below can overlap. 12 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.

About Alphabet Inc. (Class A)

Alphabet Inc. is an American multinational technology conglomerate holding company headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent holding company of Google and several former Google subsidiaries. Alphabet is listed on the large-cap section of the Nasdaq under the ticker symbols GOOGL and GOOG; both classes of stock are components of major stock market indices such as the S&P 500 and Nasdaq-100. Alphabet has been described as a Big Tech company. As of July 2026, it is the third largest publicly traded company in the world by market capitalization.

Source: Wikipedia — Alphabet Inc.

Headquarters: Mountain View, California From SEC filings, Oct 2026

Company profile

Alphabet Inc. describes itself in its Form 10-K for 2025 as a collection of businesses, the largest of which is Google. It reports Google in two segments, Google Services and Google Cloud, and all non-Google businesses collectively as Other Bets. Certain centralized AI research and development, focused on advanced AI research and the frontier models that serve its businesses, is reported in Alphabet-level activities rather than in a segment. Sundar Pichai is Chief Executive Officer of Alphabet and Google LLC.

Google Services generates revenues primarily from performance and brand advertising on Google Search & other properties, YouTube and Google Network partners' properties, and also from consumer subscriptions (primarily YouTube services and Google One), platforms (primarily Google Play) and devices (primarily the Pixel family). Google Cloud generates revenues primarily from consumption-based fees and subscriptions for Google Cloud Platform and Google Workspace; Alphabet's Form 10-Q for the second quarter of 2026 says it began recognizing revenue from the sale of TPU systems in that quarter. Other Bets revenues come primarily from the sale of autonomous transportation services and internet services. Alphabet generated more than 70% of its 2025 revenues from online advertising.

Alphabet's fiscal year is the calendar year, ending December 31. Google was incorporated in California in September 1998 and re-incorporated in Delaware in August 2003; in 2015 a holding company reorganization made Alphabet the successor issuer to Google. Its headquarters are in Mountain View, California. Alphabet has two listed share classes, Class A (GOOGL, this page) and Class C (GOOG); this profile describes the whole company.

In 2026, Alphabet completed its acquisitions of Intersect, on March 10, for $5.9 billion, and Wiz, on March 11, for $29.5 billion, in each case after purchase price adjustments (for Wiz, excluding post-combination compensation arrangements); Wiz's results are reported in the Google Cloud segment. In February 2026, Waymo received $16.0 billion in funding, the significant majority of which was funded by Alphabet. In March 2026, Alphabet agreed to contribute its GFiber subsidiary to a new entity, a deal expected to close in late 2026, and committed to a $40.0 billion investment in a private company that the 10-Q does not name, $30.0 billion of it contingent on specified operational and financial milestones.

Alphabet raised large amounts of capital in 2026. According to its 10-Q for the second quarter (unaudited), in the first half it issued $20.0 billion of U.S. dollar and $31.8 billion of foreign-currency senior unsecured notes. In June 2026 it sold Class A and Class C stock in an underwritten public offering with net proceeds of $20.5 billion and a $10.0 billion private placement to an affiliate of Berkshire Hathaway, and issued 6.25% mandatory convertible preferred stock for $19.0 billion of net proceeds; it said the proceeds would be used for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute. It also set up an at-the-market program to sell up to $40.0 billion of Class A and Class C stock, with proceeds primarily intended to meet tax obligations associated with employee equity grants; no shares had been sold under it as of June 30, 2026. On August 10, 2026, it closed a further $25 billion offering of U.S. dollar senior notes.

Summary sources:¹²³⁴⁵

$402,836 million¹

Revenues, 2025 (year ended December 31, 2025)

$129,039 million¹

Income from operations, 2025

$132,170 million¹

Net income, 2025

$10.81¹

Diluted net income per share, 2025

$224,532 million¹

Google Search & other revenues, 2025

$40,367 million¹

YouTube ads revenues, 2025

$58,705 million¹

Google Cloud segment revenues, 2025

$13,910 million¹

Google Cloud segment operating income, 2025

$164,713 million¹

Net cash provided by operating activities, 2025

$91,447 million¹

Purchases of property and equipment, 2025

190,820¹

Employees, December 31, 2025

$229,692 million³

Revenues, six months ended June 30, 2026 (unaudited)

$44,796 million³

Google Cloud segment revenues, six months ended June 30, 2026 (unaudited)

$80.6 billion³

Capital expenditures, six months ended June 30, 2026 (unaudited)

$519.5 billion, of which $513.9 billion related to Google Cloud³

Revenue backlog (remaining performance obligations), June 30, 2026 (unaudited)

198,933³

Employees, June 30, 2026

5,868 million Class A, 835 million Class B and 5,527 million Class C³

Shares outstanding, July 15, 2026

Revenue by fiscal year, as reported in 10-K

Fiscal year	Revenue (as reported in 10-K)	Reported as	Filed
2022	$282,836 million⁶	Form 10-K for fiscal year 2022 (year ended December 31, 2022), revenues	Feb 3, 2023
2023	$307,394 million⁷	Form 10-K for fiscal year 2023 (year ended December 31, 2023), revenues	Jan 31, 2024
2024	$350,018 million⁸	Form 10-K for fiscal year 2024 (year ended December 31, 2024), revenues	Feb 5, 2025
2025	$402,836 million¹	Form 10-K for fiscal year 2025 (year ended December 31, 2025), revenues	Feb 5, 2026

Products

Google Services

Name	Released	What it is
Google Search	—	Helps people find information; Alphabet's 10-K for 2025 says there are trillions of searches on Google every year. Ads on Search and on other Google properties such as Gmail, Google Maps and Google Play are reported as Google Search & other.¹
AI Overviews	May 14, 2024	AI-generated responses in Google Search. Google said on May 14, 2024 that AI Overviews would begin rolling out to everyone in the U.S. that day, with more countries to follow.⁹
AI Mode in Search	May 20, 2025	An end-to-end AI Search experience with more advanced reasoning and multimodality, and the ability to go deeper through follow-up questions and links to the web. Google said on May 20, 2025 that AI Mode would start to roll out for everyone in the U.S. that day.¹⁰
Google advertising tools: Demand Gen, Performance Max, Product Studio	—	Advertising products that Alphabet's 10-K for 2025 says use its AI, part of the performance and brand advertising sold on Google Search & other properties, YouTube and Google Network partners' properties.¹
Google Network: AdMob, AdSense and Google Ad Manager	—	Ads on partner properties; Alphabet reports revenues from Google Network properties participating in AdMob, AdSense and Google Ad Manager as Google Network revenues.¹
YouTube	—	A video platform for entertainment, information and learning content that supports creators through the YouTube Partner Program. Its advertising revenues are reported as YouTube ads.¹
YouTube TV, YouTube Music and Premium, NFL Sunday Ticket	—	Consumer subscriptions, reported within Google subscriptions, platforms, and devices rather than in YouTube ads.¹
Google One	—	A consumer subscription that Alphabet's 10-K for 2025 says offers access to Google's most capable Gemini models.¹
Android, Chrome and ChromeOS	—	Google says it invests in platforms like its Android mobile operating system, Chrome browser and Chrome operating system; Android and Chrome are named among Google Services' core products and platforms.¹
Google Play	—	Google's app platform, which earns revenues from the sale of apps and in-app purchases, reported within Google subscriptions, platforms, and devices.¹
Gmail, Google Drive, Google Maps and Google Photos	—	Named in Alphabet's 10-K for 2025 among Google Services' core products and platforms. The 10-K says all 15 of its half-billion-user products, seven of them with two billion users, use its Gemini models.¹
Gemini app	Feb 8, 2024	Google's AI assistant app. Google said on February 8, 2024 that Bard was now known as Gemini, with a new Gemini app on Android, and that Gemini was rolling out on Android and iOS phones in the U.S. in English that day.¹¹

Google Services: devices

Name	Released	What it is
Pixel 11, Pixel 11 Pro and Pixel 11 Pro XL	Aug 20, 2026	Phones unveiled on August 12, 2026, powered by the Google Tensor G6 chip. Google said all three would be on shelves at the Google Store and its retail partners on August 20.¹²
Pixel 11 Pro Fold and Pixel Tag	—	Announced on August 12, 2026 with the other Pixel 11 phones and Pixel Watch 5. Google describes Pixel Tag as its first-ever finder tag, using Google's Find Hub network.¹³
Pixel Watch 5	Aug 2026	A smartwatch announced at Made by Google 2026. Google said on August 25, 2026 that the Pixel 11 phones and Pixel Watch 5 were on shelves.¹⁴
Pixel 10, Pixel 10 Pro and Pixel 10 Pro XL	Aug 28, 2025	Google's 10th generation of phones, with the Google Tensor G5 chip, introduced on August 20, 2025. Google said all three would be on shelves at the Google Store and its retail partners on August 28.¹⁵
Pixel Watch 4	Oct 9, 2025	A smartwatch introduced on August 20, 2025. Google said it was available for preorder that day and on shelves starting October 9.¹⁶

Google Cloud

Name	Released	What it is
Google Cloud Platform	—	Infrastructure, platform and other cloud services, sold primarily through consumption-based fees and subscriptions, including AI-optimized infrastructure with Google's custom TPUs and GPUs for training and serving AI models.¹
Ironwood TPU	—	Google's seventh-generation TPU, a custom AI chip. Google Cloud said on April 22, 2026 that Ironwood TPUs and its Axion custom processors were generally available.¹⁷
TPU 8t and TPU 8i	—	Eighth-generation TPUs that Google Cloud announced on April 22, 2026: TPU 8t optimized for training and TPU 8i for inference.¹⁷
TPU systems	—	TPU systems comprising hardware, software, installation, support and extended warranty services; Alphabet's 10-Q for the second quarter of 2026 says it began recognizing revenue from the sale of TPU systems in that quarter.³
Gemini Enterprise	Oct 9, 2025	An agentic AI platform for the workplace that Google Cloud introduced on October 9, 2025: a chat interface backed by Gemini models, a no-code workbench, pre-built and custom agents, connections to company data and central governance.¹⁸
Gemini Enterprise Agent Platform	Apr 22, 2026	A platform to build, scale, govern and optimize agents, launched on April 22, 2026. Google Cloud calls it the evolution of Vertex AI and says Vertex AI services will be delivered through it rather than as a standalone service.¹⁹
Google Workspace and Gemini for Google Workspace	—	Subscriptions for cloud-based communication and collaboration tools for enterprises; Gemini for Google Workspace brings Google's AI agents into Gmail, Docs, Sheets and other Workspace apps.¹
Wiz	—	A cloud and AI security platform headquartered in New York. Google completed its acquisition on March 11, 2026; Wiz joined Google Cloud, keeps its brand and continues to work across major clouds including AWS, Microsoft Azure and Oracle Cloud.²⁰
Google Threat Intelligence and Security Operations	—	Google Cloud's security products. Google Cloud said on April 22, 2026 that its Agentic Defense is delivered via a cybersecurity platform combining Google's Threat Intelligence and Security Operations with Wiz's Cloud and AI Security Platform to detect, prevent and respond to threats.¹⁷
Data and Analytics	—	Google Cloud services that, according to Alphabet's 10-K for 2025, help customers migrate, clean, prepare and feed data into their models.¹

Alphabet-level activities

Name	Released	What it is
Gemini 3	Nov 18, 2025	A Gemini model that Google called its most intelligent at launch on November 18, 2025, available that day in the Gemini app, AI Mode in Search, AI Studio and Vertex AI.²¹
Gemini 3.5 Flash	May 19, 2026	The first model of the Gemini 3.5 family, introduced on May 19, 2026 and available that day in the Gemini app, AI Mode in Search, the Gemini API, Google Antigravity, Gemini Enterprise and Gemini Enterprise Agent Platform.²²
Gemini 3.8 Flash	Sep 2, 2026	A Gemini model introduced on September 2, 2026, which Google calls its most intelligent workhorse model; available that day in Google Antigravity, the Gemini API and Gemini Enterprise, and to Google AI Pro and Ultra subscribers in the Gemini app, AI Mode in Search and Gemini in Google Sheets.²³
Gemini 4 Argon (limited rollout)	—	A frontier model Google announced on September 30, 2026, in a limited rollout to a set of trusted cyber defenders through its Fairwind Program. Google said it would gather feedback before making Argon available to developers, enterprises and consumers.²⁴

Other Bets

Name	Released	What it is
Waymo	—	Fully autonomous ride-hailing. Waymo said on September 1, 2026 that it was welcoming its first public riders in Denver, San Diego and Tampa, marking 14 cities where it provides riders fully autonomous trips.²⁵
Isomorphic Labs	—	An Other Bets company that applies AI to drug discovery; Alphabet's 10-K for 2025 says it is reimagining the drug discovery process from first principles.¹
X	—	Alphabet's moonshot factory, focused on developing breakthrough technologies; an Other Bets business in the research and development phase.¹

Segments and products

Google Services: Includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search and YouTube. Generates revenues primarily from advertising; fees for consumer subscription-based products such as YouTube TV, YouTube Music and Premium, NFL Sunday Ticket and Google One; the sale of apps and in-app purchases; and devices. Segment revenues were $342,721 million and segment operating income was $139,404 million in 2025.¹
Google Cloud: Includes infrastructure and platform services, applications, and other services for enterprise customers. Generates revenues primarily from consumption-based fees and subscriptions for Google Cloud Platform services, Google Workspace communication and collaboration tools, and other enterprise services. Segment revenues were $58,705 million and segment operating income was $13,910 million in 2025.¹
Other Bets: A combination of multiple operating segments that are not individually material, including Waymo. Revenues come primarily from the sale of autonomous transportation services and internet services. Other Bets revenues were $1,537 million and the operating loss was $7,515 million in 2025, which Alphabet says included a $2.1 billion fourth-quarter employee compensation charge for Waymo based on estimated stock valuation.¹
Alphabet-level activities (not a segment): Costs not allocated to the segments, primarily certain AI-focused shared research and development, including the development of Alphabet's general AI models, corporate initiatives such as philanthropy, and certain corporate shared costs such as finance, human resource and legal costs, including certain fines and settlements. Alphabet-level activities reduced income from operations by $16,760 million in 2025.¹
Google Services revenues by type, 2025: Not segments. Google Search & other $224,532 million; YouTube ads $40,367 million; Google Network $29,792 million; Google advertising in total $294,691 million; Google subscriptions, platforms, and devices $48,030 million. In 2024: Google Search & other $198,084 million and YouTube ads $36,147 million. In 2023: Google Search & other $175,033 million and YouTube ads $31,510 million. YouTube subscription revenues are reported within Google subscriptions, platforms, and devices, not in YouTube ads.¹
Revenues by geography, 2025: Based on customer addresses: United States $194,229 million; EMEA (Europe, the Middle East and Africa) $117,152 million; APAC (Asia-Pacific) $67,680 million; Other Americas (Canada and Latin America) $23,902 million; hedging losses $127 million.¹
Segments in the first half of 2026 (unaudited): For the six months ended June 30, 2026, Google Services revenues were $184,177 million with operating income of $80,133 million (including Google Search & other $123,670 million and YouTube ads $20,938 million); Google Cloud revenues were $44,796 million with operating income of $15,412 million; Other Bets revenues were $793 million with an operating loss of $3,899 million; Alphabet-level activities reduced income from operations by $11,180 million. The 10-Q reports the same three segments.³

Risks

Dependence on advertising: Alphabet says it generated more than 70% of total revenues from online advertising in 2025, that many of its advertisers, companies that distribute its products and services, digital publishers and content providers can terminate their contracts at any time, and that advertiser spending tends to correlate with economic conditions. It says AI is quickly reshaping the advertising industry and there is no assurance it will adapt effectively and competitively, and that technologies that make personalized ads more difficult or block ads could harm its business.¹
Competition, including in AI: Alphabet says it faces formidable competition in every aspect of its business, from large established companies to start-ups, including AI model developers and providers of AI products and services. It says AI technology is highly competitive, rapidly evolving and requires significant investment, and that other companies may develop AI products similar or superior to its own or more cost-effective to develop or deploy.¹
U.S. search antitrust case: In the case brought by the DOJ and state Attorneys General over Google's Search and Search advertising practices, the court ruled against Google in August 2024 and entered a final judgment in December 2025 that, among other things, restricts how Google distributes its services and requires it to share certain search data with, and offer syndication services to, certain competitors. Google appealed in January 2026 and the DOJ and states also appealed in February 2026. Alphabet's 10-Q for the second quarter of 2026 says the court denied Google's motion to pause certain remedies as premature, allowing Google to seek a stay once their scope is more defined.³
Advertising technology cases: In April 2025, a federal court in the DOJ's ad tech case ruled that Google's publisher tools unfairly excluded rivals, while finding its advertiser tools and the DoubleClick and AdMeld acquisitions were not anticompetitive. Alphabet says the DOJ's remedy proposal includes structural remedies that could have a material adverse effect on its business, and that as of its second-quarter 2026 10-Q it was awaiting a final judgment, after which it plans to appeal the adverse portion of the April 2025 decision and potentially aspects of the remedies decision. Separately, it has appealed a September 2025 European Commission decision imposing a €3.0 billion fine over its ad tech practices.³
European cases and private damages claims: Alphabet's 10-Q for the second quarter of 2026 says the European Court of Justice denied its appeal in the 2018 Android case in July 2026, making the EC decision final, and that it paid $5.2 billion for the fine plus accrued interest that month. It also accrued $2.1 billion in legal charges in the second quarter of 2026 relating to a Stockholm court decision in a private action by PriceRunner, a Klarna subsidiary, over shopping search results, which it has appealed. In March 2025 the EC also issued preliminary findings of non-compliance in two Digital Markets Act investigations relating to Google Play and Search, to which Google responded.³
Power, chips and supply chain: Alphabet says its ability to scale its technical infrastructure is increasingly constrained by the availability of power, water and land, that supply of servers and network equipment, particularly specialized AI chips, is limited to a small number of qualified suppliers, and that failing to secure enough capacity in time would limit its ability to train models and serve Cloud customers.¹
Infrastructure spending, financing and dilution: Alphabet says it expects to significantly expand its investment in property and equipment, and that its large, long-duration commercial agreements, including backstops supporting third-party data centers and power infrastructure, could increase its liabilities if it, its counterparties or vendors do not perform. It says its indebtedness, leases, backstops and guarantees, combined with the dilutive impact of current or future equity issuances, including at-the-market sales and conversion of its mandatory convertible preferred stock, could harm its financial condition or depress its stock price.³
Swings in investment values: Alphabet says factors such as liquidity, credit losses, the performance of the underlying entities, interest and exchange rates, regulation and the stock market could cause the value of its investments to significantly decline. It also says gains and losses on non-marketable equity securities are recognized in other income (expense), net, which increases the volatility of that line, and that unrealized gains and losses it records may differ significantly from those it ultimately realizes.¹
SpaceX and other equity gains in 2026: Other income (expense), net was $135,699 million (unaudited) in the first half of 2026, and Alphabet says its increase from the first half of 2025 was primarily related to unrealized gains in its equity securities portfolio from SpaceX and a private company. At June 30, 2026, its marketable equity securities included $80.0 billion of SpaceX shares subject to short-term restrictions on the ability to sell and $14.1 billion of SpaceX shares subject to long-term restrictions through the third quarter of 2027 (unaudited).³
Founders' voting control: Class B stock has 10 votes per share, Class A one vote and Class C no voting rights. As of December 31, 2025, Larry Page and Sergey Brin beneficially owned approximately 89.3% of the outstanding Class B stock, about 52.7% of the voting power, and Alphabet says this gives them significant influence over all matters requiring stockholder approval.¹

Frequently asked questions

What does Alphabet do?: Alphabet is the holding company of Google. According to its Form 10-K for 2025, Google Services earns money mainly from advertising on Google Search, YouTube and partner sites, plus subscriptions, Google Play and devices; Google Cloud sells cloud infrastructure, AI and Workspace services to businesses; and Other Bets, including Waymo, sells primarily autonomous transportation and internet services.
What was Alphabet's revenue in 2025?: Alphabet reported revenues of $402,836 million for 2025, the year ended December 31, 2025, in its Form 10-K filed on February 5, 2026. Income from operations was $129,039 million and net income was $132,170 million.
How much does Google Search make?: Alphabet reports a revenue line called Google Search & other, which also includes other Google-owned properties such as Gmail, Google Maps and Google Play. It was $224,532 million in 2025, according to the 10-K, and $123,670 million (unaudited) for the six months ended June 30, 2026, according to the 10-Q for that quarter.
How much does YouTube make?: YouTube ads revenues were $40,367 million in 2025, according to Alphabet's 10-K. Revenue from YouTube subscriptions such as YouTube TV, YouTube Music and Premium is reported within Google subscriptions, platforms, and devices ($48,030 million in 2025), which Alphabet does not break out by product.
How big is Google Cloud?: Google Cloud segment revenues were $58,705 million in 2025, with operating income of $13,910 million. For the six months ended June 30, 2026, revenues were $44,796 million (unaudited). Of Alphabet's $519.5 billion revenue backlog at June 30, 2026 (unaudited), $513.9 billion related to Google Cloud.
What is the difference between GOOGL and GOOG?: GOOGL is Alphabet's Class A stock, with one vote per share; GOOG is its Class C capital stock, which has no voting rights except as required by law. Alphabet's 10-K says the rights of the classes are otherwise identical. A third class, Class B, has 10 votes per share and converts to Class A on sale or transfer.
Who runs Alphabet?: Sundar Pichai is Chief Executive Officer of Alphabet and Google LLC, and Anat Ashkenazi is Senior Vice President and Chief Financial Officer, according to Alphabet's Form 8-K filings of March and April 2026. John L. Hennessy is Chair of the Board, according to its 10-Q for the second quarter of 2026.
Does Alphabet pay a dividend or buy back stock?: Yes, it pays a dividend: in April 2026 the board declared a quarterly cash dividend of $0.22 per share, and in July 2026 it declared another $0.22 per share on its Class A, Class B and Class C stock along with a quarterly cash dividend of $12.15 per share on each series of its mandatory convertible preferred stock. Alphabet made no share repurchases in the first six months of 2026, and $69.5 billion remained available under its repurchase program as of June 30, 2026 (unaudited, according to its 10-Q for that quarter). In 2025 it repurchased $45.4 billion of Class A and Class C shares.
Where is Alphabet headquartered?: In Mountain View, California, according to its Form 10-K for 2025. Its principal executive offices are at 1600 Amphitheatre Parkway.