Alphabet says second-quarter revenue rose 24% to $119.8 billion

Alphabet said consolidated revenues for the quarter ended June 30, 2026 increased 24%, or 23% in constant currency, to $119.8 billion. It announced the results on July 22, 2026, and described the quarter as its 12th consecutive quarter of double-digit revenue growth.

Google Services revenues rose 15% to $94.5 billion, led by 17% growth in Google Search & other and 13% growth in YouTube ads. Google Cloud revenues rose 82% to $24.8 billion. Sundar Pichai, CEO of Google and Alphabet, said demand for AI infrastructure and AI solutions drove the Google Cloud growth.

Consolidated operating income rose 30% to $40.77 billion, and operating margin expanded 2 percentage points to 34%. Other income included a net gain of $98 billion, primarily from net unrealized gains on equity securities. Net income available to common stockholders increased 298%.

In June 2026, Alphabet issued Class A and Class C stock and mandatory convertible preferred stock for aggregate net proceeds of $49.6 billion. Alphabet said the proceeds would be used for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute. It also issued senior unsecured notes for net proceeds of $20.3 billion in the second quarter.

Alphabet said it entered into an equity distribution agreement with certain sales agents covering up to $40 billion of Class A and Class C stock through an At-the-Market Program. As of June 30, 2026, it had not sold any shares under the program. In July 2026, Alphabet's board declared a quarterly cash dividend of $0.22 per share on Class A, Class B and Class C stock, payable September 14, 2026 to holders of record on September 7, 2026.