12 slides from Alphabet Inc (google) Class C's earnings presentation, Jul 22, 2026
Slide 1: Q2 2026 Earnings
Q2 2026 Earnings July 22, 2026
Slide 2: Note About Forward-Looking Statements and Non-GAAP Financial Measures
Q2 2026 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: Shipping innovation at scale with incredible velocity
Shipping innovation at scale with incredible velocity Gemini 3 Nano Banana Pro Gemini in Chrome Gemini 3.5 Flash Gemini Spark updates Nov May 2025 2026 Google Antigravity Genie 3 for AI Ultra Gemini 3.1 Pro Gemini Omni subscribers 3
Slide 4: Earnings Highlights
Q2 2026 Earnings Earnings Highlights +24% +17% +82% ~22B +13% 950M Alphabet Q2 Y/Y Q2 Y/Y revenue Q2 Y/Y revenue Tokens per minute vs. Q2 Y/Y revenue growth Gemini App monthly revenue growth growth in Search growth; $514B backlog 16B+ last quarter in YouTube Ads active users Alphabet Search & Other
Slide 5: Q2 2026 Earnings income statement
Q2 2026 Earnings in Millions, except Percentages and EPS; unaudited Q2'25 Q2'26 Y/Y Revenues $96,428 $119,796 24% Costs and Expenses: Cost of Revenues 39,039 45,943 18% Research and Development 13,808 18,219 32% Sales and Marketing 7,101 8,403 18% General and Administrative 5,209 6,461 24% Total Cos
Slide 6: Revenues and Operating Income
Q2 2026 Earnings in Millions, except Percentages; unaudited $120,000 $119,796 $50,000 Operating Income ($MM) $110,000 $40,770 $40,000 Revenues ($MM) $100,000 $31,271 $96,428 $30,000 $90,000 $20,000 $80,000 $10,000 $70,000 $60,000 $0 Q2’25 Q2’26 Q2’25 Q2’26 Y/Y Growth +14% +24% Operating Margin 32.4%
Slide 7: Operating Expenses and Cost of Revenues
Q2 2026 Earnings in Millions, except Percentages; unaudited Total TAC Other Cost of Revenues Research & Development Sales & Marketing General & Administrative $50,000 $50,000 $45,943 Operating Expenses ($MM) Cost of Revenues ($MM) $40,000 $39,039 $40,000 $29,764 $33,083 $30,000 $24,334 $30,000 $26,1
Slide 8: Google Services Revenues and Operating Income
Q2 2026 Earnings in Millions, except Percentages; unaudited Google Search & Other YouTube Ads Google Network Subscriptions, Platforms & Devices $100,000 $40,000 $39,544 $94,540 Operating Income ($MM) $33,063 $82,543 $12,911 +15% Y/Y Revenues ($MM) $80,000 $11,203 -1% Y/Y $30,000 $7,303 $11,055 +13%
Slide 9: Google Cloud Revenues and Operating Income
Q2 2026 Earnings in Millions, except Percentages; unaudited $25,000 $24,768 $10,000 $8,814 Operating Income ($MM) $20,000 Revenues ($MM) $8,000 $15,000 $6,000 $13,624 $10,000 $4,000 $2,826 $0 $2,000 Q2’25 Q2’26 Q2’25 Q2’26 Y/Y Growth +32% +82% Operating Margin 20.7% 35.6%
Slide 10: Capital Expenditures
Q2 2026 Earnings in Millions, except Percentages; unaudited $45,000 $44,924 $40,000 Capital Expenditures ($MM) $35,674 $35,000 $30,000 $27,851 $25,000 $22,446 $23,953 $20,000 $5,000 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Y/Y Growth +70% +83% +95% +107% +100%
Slide 11: Free Cash Flow
Q2 2026 Earnings in Millions, except Percentages; unaudited Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q2’26 Y/Y Net cash provided by operating activities 27,747 48,414 52,402 45,790 39,069 41% Purchases of property and equipment (22,446) (23,953) (27,851) (35,674) (44,924) 100% Free Cash Flow $5,301 $24,461 $24
Slide 12: Reconciliation of GAAP to Non-GAAP Financial Information
Q2 2026 Earnings in Millions, except Percentages; unaudited 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 about the amount of cash generated by the business