10 slides from Alphabet Inc (google) Class C's earnings presentation, Jul 23, 2025
Slide 1: Q2 2025 Earnings
Q2 2025 Earnings July 23, 2025
Slide 2: Note About Forward-Looking Statements and Non-GAAP Financial Measures
Q2 2025 Earnings Note About Forward-Looking Statements and Non-GAAP Financial Measures This presentation may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a numbe
Slide 3: Alphabet Income Statement
Q2 2025 Earnings Alphabet Income Statement in Millions, except Percentages and EPS; unaudited Q2'24 Q2'25 Y/Y Revenues $84,742 $96,428 14% Costs and Expenses: Cost of Revenues 35,507 39,039 10% Research and Development 11,860 13,808 16% Sales and Marketing 6,792 7,101 5% General and Administrative 3
Slide 4: Operating Income and Revenues
Q2 2025 Earnings Alphabet Revenues and Operating Income in Millions, except Percentages; unaudited $100,000 $96,428 Operating Income ($MM) $40,000 $90,000 $84,742 $31,271 Revenues ($MM) $80,000 $30,000 $27,425 $70,000 $20,000 $60,000 $10,000 $50,000 $0 Q2’24 Q2’25 Q2’24 Q2’25 Y/Y Growth +14% +14% Op
Slide 5: Operating Expenses and Cost of Revenues
Q2 2025 Earnings Alphabet Cost of Revenues and Operating Expenses in Millions, except Percentages; unaudited Total TAC Other Cost of Revenues Research & Development Sales & Marketing General & Administrative $39,039 $40,000 $40,000 $35,507 Operating Expenses ($MM) Cost of Revenues ($MM) $24,334 $30,
Slide 6: Google Services Income
Q2 2025 Earnings Google Services Revenues and Operating Income in Millions, except Percentages; unaudited Google Search & Other YouTube Ads Google Network Subscriptions, Platforms & Devices $90,000 $40,000 $82,543 Operating Income ($MM) $33,063 $73,928 $11,203 +20% Y/Y $29,674 Revenues ($MM) $70,000
Slide 7: Google Cloud Income
Q2 2025 Earnings Google Cloud Revenues and Operating Income in Millions, except Percentages; unaudited $14,000 $13,624 Operating Income ($MM) $3,000 $2,826 Revenues ($MM) $12,000 $10,347 $2,000 $1,172 $10,000 $1,000 $8,000 $0 Q2’24 Q2’25 Q2’24 Q2’25 Y/Y Growth +29% +32% Operating Margin 11.3% 20.7%
Slide 8: Capital Expenditures
Q2 2025 Earnings Alphabet Capital Expenditures in Millions, except Percentages; unaudited $25,000 $22,446 $20,000 $17,197 Capital Expenditures ($MM) $14,276 $15,000 $13,186 $13,061 $10,000 $5,000 $0 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Y/Y Growth +91% +62% +30% +43% +70%
Slide 9: Trailing Twelve Months Free Cash Flow
Q2 2025 Earnings Trailing Twelve Months Free Cash Flow* in Millions, except Percentages; unaudited Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2’25 Y/Y Net cash provided by operating activities 26,640 30,698 39,113 36,150 27,747 4% Purchases of property and equipment (13,186) (13,061) (14,276) (17,197) (22,446)
Slide 10: Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow
Q2 2025 Earnings Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow We provide non-GAAP free cash flow for the current quarter and trailing twelve months (“TTM”) because it is a liquidity measure that provides useful information to management and investors