Alphabet Inc (google) Class C · NASDAQ:GOOG
Alphabet Inc (google) Class C — Alphabet — Q3 2025 Earnings Presentation
10 slides from Alphabet Inc (google) Class C's earnings presentation, Oct 29, 2025
Slide 1: Q3 2025 Earnings
Q3 2025 Earnings October 29, 2025
Slide 2: Note About Forward-Looking Statements and Non-GAAP Financial Measures
Q3 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
Q3 2025 Earnings Alphabet Income Statement in Millions, except Percentages and EPS; unaudited Q3'24 Q3'25 Y/Y Revenues $88,268 $102,346 16% Costs and Expenses: Cost of Revenues 36,474 41,369 13% Research and Development 12,447 15,151 22% Sales and Marketing 7,227 7,205 0% General and Administrative
Slide 4: Revenues and Operating Income
Q3 2025 Earnings Alphabet Revenues and Operating Income in Millions, except Percentages; unaudited $110,000 $50,000 $102,346 Operating Income ($MM) $100,000 $40,000 $88,268 $31,228* Revenues ($MM) $90,000 $28,521 $30,000 $80,000 $31,271 $20,000 $70,000 $10,000 $60,000 $50,000 $0 Q3’24 Q3’25 Q3’24 Q3
Slide 5: Cost of Revenues and Operating Expenses
Q3 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 $50,000 $50,000 $41,369 Operating Expenses ($MM) Cost of Revenues ($MM) $40,000 $40,000 $36,
Slide 6: Google Services Revenues and Operating Income
Q3 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 $87,052 Operating Income ($MM) $33,527* $12,870 +21% Y/Y $76,510 $30,856 Revenues ($MM) $70,00
Slide 7: Google Cloud Revenues and Operating Income
Q3 2025 Earnings Google Cloud Revenues and Operating Income in Millions, except Percentages; unaudited $20,000 $4,000 $3,594 $15,157 Operating Income ($MM) $15,000 $3,000 Revenues ($MM) $11,353 $1,947 $10,000 $2,000 $5,000 $1,000 $0 $0 Q3’24 Q3’25 Q3’24 Q3’25 Y/Y Growth +35% +34% Operating Margin 17
Slide 8: Capital Expenditures
Q3 2025 Earnings Alphabet Capital Expenditures in Millions, except Percentages; unaudited $25,000 $23,953 $22,446 $20,000 $17,197 Capital Expenditures ($MM) $14,276 $15,000 $13,061 $10,000 $5,000 $0 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Y/Y Growth +62% +30% +43% +70% +83%
Slide 9: Trailing Twelve Months Free Cash Flow
Q3 2025 Earnings Trailing Twelve Months Free Cash Flow* in Millions, except Percentages; unaudited Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q3’25 Y/Y Net cash provided by operating activities 30,698 39,113 36,150 27,747 48,414 58% Purchases of property and equipment (13,061) (14,276) (17,197) (22,446) (23,953)
Slide 10: Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow
Q3 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