GOOGN

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Exhibit 99.1

Alphabet Announces Second Quarter 2026 Results

MOUNTAIN VIEW, Calif. – July 22, 2026 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2026.

•Consolidated Alphabet revenues increased 24%, or 23% in constant currency, to $119.8 billion, reflecting strong performance across the business and our 12th consecutive quarter of double-digit revenue growth.

•Google Services revenues increased 15% to $94.5 billion, led by 17% growth in Google Search & other, 15% in Google subscriptions, platforms, and devices, and 13% in YouTube ads.

•Google Cloud saw a meaningful acceleration in growth as revenues increased 82% to $24.8 billion, led by an increase in Google Cloud Platform (GCP) across enterprise AI Solutions and enterprise AI Infrastructure, as well as core GCP services.

•Consolidated Alphabet operating income increased 30% and operating margin expanded by 2 percentage points to 34%.

•Other income reflected a net gain of $98.0 billion, primarily the result of net unrealized gains on our equity securities.

•Net income available to common stockholders increased 298% and EPS increased 294% to $9.11.

Sundar Pichai, CEO of Google and Alphabet, said: “Our AI investments are redefining what’s possible across every part of our business.

Q2 was an amazing quarter, with Alphabet revenues growing 24% year-over-year and Google Cloud revenues accelerating to 82% growth, driven by demand for AI infrastructure and AI solutions. It’s great to see wide adoption of Gemini Enterprise, with nearly 90% of the Fortune 100 using it.

We have exciting momentum across the board. Our popular AI features are driving Search query growth. Gemini models now process 22 billion API tokens per minute and the Gemini App has 950 million monthly active users. We are seeing strong demand for our security solutions, and our new Gemini 3.5 Flash Cyber delivers highly cost-efficient performance at the frontier. And month over month, people turn to YouTube for major world events, with over 1.7 billion unique viewers watching World Cup-related videos during the FIFA World Cup 2026TM.

These outstanding results show that our differentiated, full stack approach to AI is delivering real, measurable value for consumers, customers, and our partners globally.”

Q2 2026 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended June 30, 2025 and 2026 (in millions, except for per share information and percentages).

Quarter Ended June 30,

20252026

Revenues$96,428 $119,796

Change in revenues year over year14 %24 %

Change in constant currency revenues year over year(1) 13 %23 %

Operating income$31,271 $40,770

Operating margin 32 %34 %

Other income (expense), net $2,662 $97,983

Net income available to common stockholders$28,196 $112,107

Diluted net income per common share$2.31 $9.11

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Q2 2026 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended June 30,

20252026

Google Search & other$54,190 $63,271

YouTube ads9,796 11,055

Google Network7,354 7,303

Google advertising71,340 81,629

Google subscriptions, platforms, and devices11,203 12,911

Google Services total82,543 94,540

Google Cloud13,624 24,768

Other Bets373 382

Hedging gains (losses)(112)106

Total revenues$96,428 $119,796

Total TAC$14,705 $16,179

Number of employees187,103198,933

Segment Operating Results

Quarter Ended June 30,

20252026

Operating income (loss):

Google Services $33,063 $39,544

Google Cloud2,826 8,814

Other Bets(1,246)(1,799)

Alphabet-level activities(1)

(3,372)(5,789)

Total income from operations$31,271 $40,770

(1)Alphabet-level activities primarily reflect expenses related to our shared AI research and development.

Additional Information Relating to the Quarter Ended June 30, 2026 (unaudited)

Equity Capital Raise

In June 2026, we issued a combination of Class A stock and Class C stock and mandatory convertible preferred stock for aggregate net proceeds of $49.6 billion, to be used for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute. Additionally, we entered into an equity distribution agreement with certain sales agents to sell up to $40.0 billion of our Class A stock and Class C stock from time to time through an At-the-Market Program (ATM Program). The proceeds of the ATM Program are primarily intended to be used to meet tax obligations associated with employee equity grants. As of June 30, 2026, we have not sold any shares under the ATM Program.

Issuance of Senior Un

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Exhibit 99.1

Alphabet Announces First Quarter 2026 Results

MOUNTAIN VIEW, Calif. – April 29, 2026 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended March 31, 2026.

•Consolidated Alphabet revenues increased 22%, or 19% in constant currency, to $109.9 billion, reflecting strong performance across the business and our 11th consecutive quarter of double-digit growth.

•Google Services revenues increased 16% to $89.6 billion, led by 19% growth in Google Search & other, 19% in Google subscriptions, platforms, and devices, and 11% in YouTube ads.

•Google Cloud saw a meaningful acceleration in growth as revenues increased 63% to $20.0 billion, led by an increase in Google Cloud Platform (GCP) across enterprise AI Solutions and enterprise AI Infrastructure, as well as core GCP services.

•Consolidated Alphabet operating income increased 30% and operating margin expanded by 2 percentage points to 36.1%.

•Other income reflected a net gain of $37.7 billion, primarily the result of net unrealized gains on our non-marketable equity securities.

•Net income increased 81% and EPS increased 82% to $5.11.

•The company announced a 5% increase to the dividend, resulting in a quarterly cash dividend of $0.22.

Sundar Pichai, CEO of Alphabet and Google, said: “2026 is off to a terrific start. Our AI investments and full stack approach are lighting up every part of the business. Search had a strong quarter with AI experiences driving usage, queries at an all time high, and 19% revenue growth. Google Cloud revenues grew 63% with backlog nearly doubling quarter on quarter to over $460 billion. This was our strongest quarter ever for our consumer AI plans, driven by the Gemini App. Overall the number of paid subscriptions has now reached 350 million, with YouTube and Google One being the key drivers. Gemini Enterprise has great momentum with 40% quarter on quarter growth in paid monthly active users. And, finally, I’m pleased to see Waymo surpass 500,000 fully autonomous rides a week.

These outstanding results are built on our differentiated, full stack approach. Our first-party models, like Gemini, are now processing more than 16 billion tokens per minute via direct API use by our customers, up 60% from last quarter.

It’s really exciting to see how our AI investments are delivering value for our users, customers and business.”

Q1 2026 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarter ended March 31, 2025 and 2026 (in millions, except for per share information and percentages).

Quarter Ended March 31,

20252026

Revenues$90,234 $109,896

Change in revenues year over year12 %22 %

Change in constant currency revenues year over year(1) 14 %19 %

Operating income$30,606 $39,696

Operating margin 34 %36 %

Other income (expense), net $11,183 $37,716

Net income$34,540 $62,578

Diluted net income per share $2.81 $5.11

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Q1 2026 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended March 31,

20252026

Google Search & other$50,702 $60,399

YouTube ads8,927 9,883

Google Network7,256 6,971

Google advertising66,885 77,253

Google subscriptions, platforms, and devices10,379 12,384

Google Services total77,264 89,637

Google Cloud12,260 20,028

Other Bets450 411

Hedging gains (losses)260 (180)

Total revenues$90,234 $109,896

Total TAC$13,748 $15,228

Number of employees185,719194,668

Segment Operating Results

Quarter Ended March 31,

20252026

Operating income (loss):

Google Services $32,682 $40,589

Google Cloud2,177 6,598

Other Bets(1,226)(2,100)

Alphabet-level activities(1)

(3,027)(5,391)

Total income from operations$30,606 $39,696

(1)Alphabet-level activities primarily reflect expenses related to our shared AI research and development.

Additional Information Relating to the Quarter Ended March 31, 2026 (unaudited)

Issuance of Senior Unsecured Notes

In the first quarter of 2026, we issued senior unsecured notes for net proceeds of $31.1 billion, to be used for general corporate purposes.

Dividend Program

On April 27, 2026, Alphabet’s Board of Directors declared a quarterly cash dividend of $0.22 per share, representing a 5% increase from the previous quarterly dividend of $0.21 per share. The dividend is payable on June 15, 2026 to stockholders of record for each of the Company’s Class A, Class B, and Class C shares as of June 8, 2026.

Webcast and Conference Call Information

A live audio webcast of our first quarter 2026 earnings release call will be available on YouTube at https://www.youtube.com/watch?v

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Exhibit 99.1

Alphabet Announces Fourth Quarter and Fiscal Year 2025 Results

MOUNTAIN VIEW, Calif. – February 4, 2026 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended December 31, 2025.

•Consolidated Alphabet revenues increased 18%, or 17% in constant currency, to $113.8 billion, reflecting strong momentum across the business and acceleration in growth in both Google Services and Google Cloud.

•Google Services revenues increased 14% to $95.9 billion, led by 17% growth in Google Search & other, 17% in Google subscriptions, platforms, and devices, and 9% in YouTube ads.

•YouTube revenue across ads and subscriptions exceeded $60 billion for the full year 2025.

•Google Cloud saw a continued increase in customer demand as revenues increased 48% to $17.7 billion, led by an increase in Google Cloud Platform (GCP) across enterprise AI Infrastructure and enterprise AI Solutions, as well as core GCP products.

•Consolidated Alphabet operating income increased 16% and operating margin was 31.6%. Operating income included a $2.1 billion employee compensation charge for Waymo.

•Net income increased 30% and EPS increased 31% to $2.82.

Sundar Pichai, CEO of Alphabet and Google, said: “It was a tremendous quarter for Alphabet and annual revenues exceeded $400 billion for the first time. The launch of Gemini 3 was a major milestone and we have great momentum. Our first party models, like Gemini, now process over 10 billion tokens per minute via direct API use by our customers, and the Gemini App has grown to over 750 million monthly active users. Search saw more usage than ever before, with AI continuing to drive an expansionary moment.

We continue to drive strong growth across the business. YouTube’s annual revenues surpassed $60 billion across ads and subscriptions; we now have over 325 million paid subscriptions across consumer services, led by strong adoption for Google One and YouTube Premium. And Google Cloud ended 2025 at an annual run rate of over $70 billion, representing a wide breadth of customers, driven by demand for AI products.

We’re seeing our AI investments and infrastructure drive revenue and growth across the board. To meet customer demand and capitalize on the growing opportunities we have ahead of us, our 2026 CapEx investments are anticipated to be in the range of $175 to $185 billion.”

Q4 2025 Financial Highlights

The following table summarizes our consolidated financial results for the quarter and fiscal year ended December 31, 2024 and 2025 (in millions, except for per share information and percentages).

Quarter Ended December 31,Year Ended December 31,

2024202520242025

(unaudited)(unaudited)

Revenues$96,469 $113,828 $350,018 $402,836

Change in revenues year over year12 %18 %14 %15 %

Change in constant currency revenues year over year(1) 12 %17 %15 %15 %

Operating income$30,972 $35,934 $112,390 $129,039

Operating margin 32 %32 %32 %32 %

Other income (expense), net $1,271 $3,183 $7,425 $29,787

Net income$26,536 $34,455 $100,118 $132,170

Diluted net income per share $2.15 $2.82 $8.04 $10.81

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Q4 2025 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended December 31,

20242025

Google Search & other$54,034 $63,073

YouTube ads10,473 11,383

Google Network7,954 7,828

Google advertising72,461 82,284

Google subscriptions, platforms, and devices11,633 13,578

Google Services total84,094 95,862

Google Cloud11,955 17,664

Other Bets400 370

Hedging gains (losses)20 (68)

Total revenues$96,469 $113,828

Total TAC$14,848 $16,597

Number of employees 183,323190,820

Segment Operating Results

Quarter Ended December 31,

20242025

Operating income (loss):

Google Services $32,836 $40,132

Google Cloud2,093 $5,313

Other Bets(1,174)$(3,617)

Alphabet-level activities(1)

(2,783)$(5,894)

Total income from operations$30,972 $35,934

(1)Alphabet-level activities primarily reflect expenses related to our shared AI research and development.

Additional Information Relating to the Quarter Ended December 31, 2025 (unaudited)

Issuance of Senior Unsecured Notes

In November 2025, Alphabet issued senior unsecured notes for net proceeds of $24.8 billion to be used for general corporate purposes.

Waymo

In February 2026, Waymo announced an investment round of $16.0 billion, the significant majority of which was funded by Alphabet. For the quarter ended December 31, 2025, we recognized a $2.1 billion employee compensation charge, primarily reflected in research and development expenses, based on estimated stock valuation.

Dividend Program

Alphabet’s Boa

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Exhibit 99.1

Alphabet Announces Third Quarter 2025 Results

MOUNTAIN VIEW, Calif. – October 29, 2025 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended September 30, 2025.

•Consolidated Alphabet revenues in Q3 2025 increased 16%, or 15% in constant currency, year over year to $102.3 billion. Google Search & other, YouTube ads, Google subscriptions, platforms, and devices, and Google Cloud each delivered double-digit growth in Q3.

•Google Services revenues increased 14% to $87.1 billion, reflecting robust performance across Google Search & other, Google subscriptions, platforms, and devices, and YouTube ads.

•Google Cloud revenues increased 34% to $15.2 billion, led by growth in Google Cloud Platform (GCP) across core products, AI Infrastructure and Generative AI Solutions.

•Total operating income increased 9% and operating margin was 30.5%. Excluding the $3.5 billion charge related to the European Commission (EC) fine, operating income increased 22% and operating margin was 33.9%, benefitting from strong revenue growth and continued efficiencies in the expense base.

•Other income reflected a net gain of $12.8 billion, primarily the result of net unrealized gains on our non-marketable equity securities.

•Net income increased 33% and EPS increased 35% to $2.87.

•With the growth across our business and demand from Cloud customers, we now expect 2025 capital expenditures to be in a range of $91 billion to $93 billion.

“Alphabet had a terrific quarter, with double-digit growth across every major part of our business. We delivered our first-ever $100 billion quarter,” said Sundar Pichai, CEO of Alphabet and Google.

“Our full stack approach to AI is delivering strong momentum and we’re shipping at speed, including the global rollout of AI Overviews and AI Mode in Search in record time. In addition to topping leaderboards, our first party models, like Gemini, now process 7 billion tokens per minute, via direct API use by our customers. The Gemini App now has over 650 million monthly active users. We continue to drive strong growth in new businesses. Google Cloud accelerated, ending the quarter with $155 billion in backlog. And we have over 300 million paid subscriptions led by Google One and YouTube Premium.”

“We are investing to meet customer demand and capitalize on the growing opportunities across the company.”

Q3 2025 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended September 30, 2024 and 2025 (in millions, except for per share information and percentages).

Quarter Ended September 30,

20242025

Revenues$88,268 $102,346

Change in revenues year over year15 %16 %

Change in constant currency revenues year over year(1) 16 %15 %

Operating income$28,521 $31,228

Operating margin 32 %31 %

Other income (expense), net $3,185 $12,759

Net income$26,301 $34,979

Diluted EPS$2.12 $2.87

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Q3 2025 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended September 30,

20242025

Google Search & other$49,385 $56,567

YouTube ads8,921 10,261

Google Network7,548 7,354

Google advertising65,854 74,182

Google subscriptions, platforms, and devices10,656 12,870

Google Services total76,510 87,052

Google Cloud11,353 15,157

Other Bets388 344

Hedging gains (losses)17 (207)

Total revenues$88,268 $102,346

Total TAC$13,719 $14,876

Number of employees 181,269190,167

Segment Operating Results

Quarter Ended September 30,

20242025

Operating income (loss):

Google Services(1) $30,856 $33,527

Google Cloud1,947 $3,594

Other Bets(1,116)$(1,426)

Alphabet-level activities(2)

(3,166)$(4,467)

Total income from operations$28,521 $31,228

(1)Includes the EC fine of $3.5 billion for the three months ended September 30, 2025.

(2)In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $17 million and $(207) million for the three months ended September 30, 2024 and 2025, respectively. Alphabet-level activities include charges related to employee severance and office space charges.

Additional Information Relating to the Quarter Ended September 30, 2025 (unaudited)

EC Fine

On September 5, 2025, the EC announced its decision that Google had infringed European competition laws. The EC decision imposed a $3.5 billion fine which we accrued in general and administrative expenses in our Google Services segment for the three months ended September 30, 2025.

U.S. Tax Law

Changes to U.S. tax law enacted on July 4, 2025, allow, among other things, for immediate ex

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Exhibit 99.1

Alphabet Announces Second Quarter 2025 Results

MOUNTAIN VIEW, Calif. – July 23, 2025 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2025.

•Consolidated Alphabet revenues in Q2 2025 increased 14%, or 13% in constant currency, year over year to $96.4 billion reflecting robust momentum across the business. Google Search & other, YouTube ads, Google subscriptions, platforms, and devices, and Google Cloud each delivered double-digit growth in Q2.

•Google Services revenues increased 12% to $82.5 billion, reflecting strong performance across Google Search & other, Google subscriptions, platforms, and devices, and YouTube ads.

•Google Cloud revenues increased 32% to $13.6 billion, led by growth in Google Cloud Platform (GCP) across core GCP products, AI Infrastructure, and Generative AI Solutions.

•Total operating income increased 14% and operating margin was 32.4%. Operating margin benefited from strong revenue growth and continued efficiencies in the expense base, partially offset by a charge related to a settlement in principle of certain legal matters.

•Net income increased 19% and EPS increased 22% to $2.31.

Sundar Pichai, CEO, said: "We had a standout quarter, with robust growth across the company. We are leading at the frontier of AI and shipping at an incredible pace. AI is positively impacting every part of the business, driving strong momentum. Search delivered double-digit revenue growth, and our new features, like AI Overviews and AI Mode, are performing well. We continue to see strong performance in YouTube as well as subscriptions offerings. And Cloud had strong growth in revenues, backlog and profitability. Its annual revenue run-rate is now more than $50 billion. With this strong and growing demand for our Cloud products and services, we are increasing our investment in capital expenditures in 2025 to approximately $85 billion and are excited by the opportunity ahead.”

Q2 2025 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended June 30, 2024 and 2025 (in millions, except for per share information and percentages).

Quarter Ended June 30,

20242025

Revenues$84,742 $96,428

Change in revenues year over year14 %14 %

Change in constant currency revenues year over year(1) 15 %13 %

Operating income$27,425 $31,271

Operating margin 32 %32 %

Other income (expense), net $126 $2,662

Net income$23,619 $28,196

Diluted EPS$1.89 $2.31

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Q2 2025 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended June 30,

20242025

Google Search & other$48,509 $54,190

YouTube ads8,663 9,796

Google Network7,444 7,354

Google advertising64,616 71,340

Google subscriptions, platforms, and devices9,312 11,203

Google Services total73,928 82,543

Google Cloud10,347 13,624

Other Bets365 373

Hedging gains (losses)102 (112)

Total revenues$84,742 $96,428

Total TAC$13,387 $14,705

Number of employees 179,582187,103

Segment Operating Results

Quarter Ended June 30,

20242025

Operating income (loss):

Google Services$29,674 $33,063

Google Cloud1,172 $2,826

Other Bets(1,134)$(1,246)

Alphabet-level activities(1)

(2,287)$(3,372)

Total income from operations$27,425 $31,271

(1)In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $102 million and $(112) million for the three months ended June 30, 2024 and 2025, respectively. Alphabet-level activities include charges related to employee severance and office space charges.

Additional Information Relating to the Quarter Ended June 30, 2025 (unaudited)

Issuance of Senior Unsecured Notes

In May 2025, Alphabet issued fixed-rate senior unsecured notes for net proceeds of $12.5 billion to be used for general corporate purposes.

2

Webcast and Conference Call Information

A live audio webcast of our second quarter 2025 earnings release call will be available on YouTube at https://www.youtube.com/watch?v=BtXRNTgsgpU. The call begins today at 1:30 PM (PT) / 4:30 PM (ET). This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at http://abc.xyz/investor.

We also provide announcements regarding our financial performance, including SEC filings, investor events, press and earnings releases, and blogs, on our investor relations website (http://abc.xyz/investor).

We also share Google news and product updates on Google's Keyword blog at https://www.blog.google/ and News From Google page on X at x.com/Ne

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Exhibit 99.1

Alphabet Announces First Quarter 2025 Results

MOUNTAIN VIEW, Calif. – April 24, 2025 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended March 31, 2025.

•Consolidated Alphabet revenues in Q1 2025 increased 12%, or 14% in constant currency, year over year to $90.2 billion reflecting robust momentum across the business, with Google Search & other, YouTube ads, Google subscriptions, platforms, and devices, and Google Cloud each delivering double-digit growth rates.

•Google Services revenues increased 10% to $77.3 billion, reflecting strong performance across Google Search & other, Google subscriptions, platforms, and devices, and YouTube ads.

•Google Cloud revenues increased 28% to $12.3 billion, led by growth in Google Cloud Platform (GCP) across core GCP products, AI Infrastructure, and Generative AI Solutions.

•Total operating income increased 20% and operating margin expanded by 2 percentage points to 34%.

•Net income increased 46% and EPS increased 49% to $2.81.

•The company announced a 5% increase to the dividend, resulting in a quarterly cash dividend of $0.21.

Sundar Pichai, CEO, said: “We’re pleased with our strong Q1 results, which reflect healthy growth and momentum across the business. Underpinning this growth is our unique full stack approach to AI. This quarter was super exciting as we rolled out Gemini 2.5, our most intelligent AI model, which is achieving breakthroughs in performance and is an extraordinary foundation for our future innovation. Search saw continued strong growth, boosted by the engagement we’re seeing with features like AI Overviews, which now has 1.5 billion users per month. Driven by YouTube and Google One, we surpassed 270 million paid subscriptions. And Cloud grew rapidly with significant demand for our solutions.”

Q1 2025 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended March 31, 2024 and 2025 (in millions, except for per share information and percentages).

Quarter Ended March 31,

20242025

Revenues$80,539 $90,234

Change in revenues year over year15 %12 %

Change in constant currency revenues year over year(1) 16 %14 %

Operating income$25,472 $30,606

Operating margin 32 %34 %

Other income (expense), net $2,843 $11,183

Net income$23,662 $34,540

Diluted EPS$1.89 $2.81

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Exhibit 99.1

Q1 2025 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended March 31,

20242025

Google Search & other$46,156 $50,702

YouTube ads8,090 8,927

Google Network7,413 7,256

Google advertising61,659 66,885

Google subscriptions, platforms, and devices8,739 10,379

Google Services total70,398 77,264

Google Cloud9,574 12,260

Other Bets495 450

Hedging gains (losses)72 260

Total revenues$80,539 $90,234

Total TAC$12,946 $13,748

Number of employees 180,895185,719

Segment Operating Results

Quarter Ended March 31,

20242025

Operating income (loss):

Google Services$27,897 $32,682

Google Cloud900 $2,177

Other Bets(1,020)$(1,226)

Alphabet-level activities(1)

(2,305)$(3,027)

Total income from operations$25,472 $30,606

(1)In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $72 million and $260 million for the three months ended March 31, 2024 and 2025, respectively. Alphabet-level activities include all of the charges related to employee severance and office space charges.

Additional Information Relating to the Quarter Ended March 31, 2025 (unaudited)

Dividend Program

Dividend payments to stockholders of Class A, Class B, and Class C shares were $1.2 billion, $171 million, and $1.1 billion, respectively, totaling $2.4 billion for the three months ended March 31, 2025.

Alphabet’s Board of Directors declared a quarterly cash dividend of $0.21 representing a 5% increase from the previous quarterly dividend of $0.20. The dividend is payable on June 16, 2025 to stockholders of record for each of the company’s Class A, Class B, and Class C shares as of June 9, 2025.

Stock Repurchases

On April 23, 2025, Alphabet’s Board of Directors authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders, taking into account the economic cost and prevailing market conditions, including the relative trading prices and volumes of the Class A and Class C shares. The repurchases are expected to be executed from time to time, subject to general business and market conditions and other investme

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Exhibit 99.1

Alphabet Announces Fourth Quarter and Fiscal Year 2024 Results

MOUNTAIN VIEW, Calif. – February 4, 2025 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter and fiscal year ended December 31, 2024.

•Consolidated Alphabet revenues in Q4 2024 increased 12% year over year to $96.5 billion reflecting robust momentum across the business.

•Google Services revenues increased 10% to $84.1 billion, reflecting the strong momentum across Google Search & other and YouTube ads.

•Google Cloud revenues increased 30% to $12.0 billion led by growth in Google Cloud Platform (GCP) across core GCP products, AI Infrastructure, and Generative AI Solutions.

•Total operating income increased 31% and operating margin expanded by 5% percentage points to 32%.

•Net income increased 28% and EPS increased 31% to $2.15.

Sundar Pichai, CEO, said: “Q4 was a strong quarter driven by our leadership in AI and momentum across the business. We are building, testing, and launching products and models faster than ever, and making significant progress in compute and driving efficiencies. In Search, advances like AI Overviews and Circle to Search are increasing user engagement. Our AI-powered Google Cloud portfolio is seeing stronger customer demand, and YouTube continues to be the leader in streaming watchtime and podcasts. Together, Cloud and YouTube exited 2024 at an annual revenue run rate of $110 billion. Our results show the power of our differentiated full-stack approach to AI innovation and the continued strength of our core businesses. We are confident about the opportunities ahead, and to accelerate our progress, we expect to invest approximately $75 billion in capital expenditures in 2025.”

Q4 2024 Financial Highlights

The following table summarizes our consolidated financial results for the quarter and fiscal year ended December 31, 2023 and 2024 (in millions, except for per share information and percentages).

Quarter Ended December 31, Year Ended December 31,

2023202420232024

(unaudited)(unaudited)

Revenues$86,310 $96,469 $307,394 $350,018

Change in revenues year over year13 %12 %9 %14 %

Change in constant currency revenues year over year(1) 13 %12 %10 %15 %

Operating income$23,697 $30,972 $84,293 $112,390

Operating margin 27 %32 %27 %32 %

Other income (expense), net $715 $1,271 $1,424 $7,425

Net income$20,687 $26,536 $73,795 $100,118

Diluted EPS$1.64 $2.15 $5.80 $8.04

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

1

Q4 2024 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended December 31,

20232024

Google Search & other$48,020 $54,034

YouTube ads9,200 10,473

Google Network8,297 7,954

Google advertising65,517 72,461

Google subscriptions, platforms, and devices10,794 11,633

Google Services total76,311 84,094

Google Cloud9,192 11,955

Other Bets657 400

Hedging gains (losses)150 20

Total revenues$86,310 $96,469

Total TAC$13,986 $14,848

Number of employees 182,502 183,323

Segment Operating Results

As announced on October 17, 2024, the Gemini app team that is developing the direct consumer interface to our Gemini models joined Google DeepMind in the quarter ended December 31, 2024. The costs associated with the Gemini app team continue to be reported within our Google Services segment.

Quarter Ended December 31,

20232024

Operating income (loss):

Google Services$26,730 $32,836

Google Cloud864 $2,093

Other Bets(863)$(1,174)

Alphabet-level activities(1)

(3,034)$(2,783)

Total income from operations$23,697 $30,972

(1)In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $150 million and $20 million for the three months ended December 31, 2023 and 2024, respectively. For the three months ended December 31, 2023 and 2024, Alphabet-level activities included substantially all of the charges related to employee severance and our office space charges.

Additional Information Relating to the Quarter Ended December 31, 2024 (unaudited)

Dividend Program

Dividend payments to stockholders of Class A, Class B, and Class C shares, were $1.2 billion, $172 million, and $1.1 billion, respectively, totaling $2.4 billion for the three months ended December 31, 2024.

2

Webcast and Conference Call Information

A live audio webcast of our fourth quarter 2024 earnings release call will be available on YouTube at https://www.youtube.com/watch?v=URIsVKPmhGg. The call begins today at 1:30 PM (PT) / 4:30 PM (ET). This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at http://abc

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Exhibit 99.1

Alphabet Announces Third Quarter 2024 Results

MOUNTAIN VIEW, Calif. – October 29, 2024 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended September 30, 2024.

•Consolidated Alphabet revenues in Q3 2024 increased 15%, or 16% in constant currency, year over year to $88.3 billion reflecting strong momentum across the business.

•Google Services revenues increased 13% to $76.5 billion, led by strength across Google Search & other, Google subscriptions, platforms, and devices, and YouTube ads.

•Google Cloud revenues increased 35% to $11.4 billion led by accelerated growth in Google Cloud Platform (GCP) across AI Infrastructure, Generative AI Solutions, and core GCP products.

•Total operating income increased 34% and operating margin percent expanded by 4.5 percentage points to 32%.

•Net income increased 34% and EPS increased 37% to $2.12.

Sundar Pichai, CEO, said: “The momentum across the company is extraordinary. Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools.

In Search, our new AI features are expanding what people can search for and how they search for it. In Cloud, our AI solutions are helping drive deeper product adoption with existing customers, attract new customers and win larger deals. And YouTube’s total ads and subscription revenues surpassed $50 billion over the past four quarters for the first time.

We generated strong revenue growth in the quarter, and our ongoing efforts to improve efficiency helped deliver improved margins. I’m looking forward to driving more advances for consumers, customers and creators globally.”

Q3 2024 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended September 30, 2023 and 2024 (in millions, except for per share information and percentages).

Quarter Ended September 30,

20232024

Revenues$76,693 $88,268

Change in revenues year over year11 %15 %

Change in constant currency revenues year over year(1) 11 %16 %

Operating income$21,343 $28,521

Operating margin(2) 28 %32 %

Other income (expense), net $(146)$3,185

Net income$19,689 $26,301

Diluted EPS$1.55 $2.12

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

(2)    Operating margin percent expanded by 4.5 percentage points year over year. This reflects, when rounding to one decimal place, operating margins of 27.8% and 32.3% for the quarters ended September 30, 2023 and 2024, respectively.

1

Q3 2024 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended September 30,

20232024

Google Search & other$44,026 $49,385

YouTube ads7,952 8,921

Google Network7,669 7,548

Google advertising59,647 65,854

Google subscriptions, platforms, and devices8,339 10,656

Google Services total67,986 76,510

Google Cloud8,411 11,353

Other Bets297 388

Hedging gains (losses)(1)17

Total revenues$76,693 $88,268

Total TAC$12,642 $13,719

Number of employees 182,381 181,269

Segment Operating Results

As announced on October 17, 2024, the Gemini app team within Google Services that is developing the direct consumer interface to our Gemini models will join Google DeepMind. We are currently evaluating the potential effect the reorganization will have on our segment operating results.

Quarter Ended September 30,

20232024

Operating income (loss):

Google Services$23,937 $30,856

Google Cloud266 $1,947

Other Bets(1,194)$(1,116)

Alphabet-level activities(1)

(1,666)$(3,166)

Total income from operations$21,343 $28,521

(1)In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $(1) million and $17 million for the three months ended September 30, 2023 and 2024, respectively. For the three months ended September 30, 2023 and 2024, Alphabet-level activities included substantially all of the charges related to employee severance and our office space optimization efforts. During the quarter ended September 30, 2024, we incurred office space charges totaling $607 million.

Additional Information Relating to the Quarter Ended September 30, 2024 (unaudited)

Dividend Program

Dividend payments to stockholders of Class A, Class B, and Class C shares were $1.2 billion, $173 million, and $1.1 billion, respectively, totaling $2.5 billion for the three months ended September 30, 2024. On October 29, 2024, Alphabet announced a cash dividend of $0.20 per share that will be paid on December 16, 2024, to stockholders of record as of December 9, 2024, on each of the company’s Class A, Class B, and Class C share

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Exhibit 99.1

Alphabet Announces Second Quarter 2024 Results

MOUNTAIN VIEW, Calif. – July 23, 2024 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2024.

Sundar Pichai, CEO, said: “Our strong performance this quarter highlights ongoing strength in Search and momentum in Cloud. We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead.”

Ruth Porat, President and Chief Investment Officer; CFO said: “We delivered revenues of $85 billion, up 14% year-on-year driven by Search as well as Cloud, which for the first time exceeded $10 billion in quarterly revenues and $1 billion in operating profit. As we invest to support our highest growth opportunities, we remain committed to creating investment capacity with our ongoing work to durably re-engineer our cost base.”

Q2 2024 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended June 30, 2023 and 2024 (in millions, except for per share information and percentages).

Quarter Ended June 30,

20232024

Revenues$74,604 $84,742

Change in revenues year over year7 %14 %

Change in constant currency revenues year over year(1) 9 %15 %

Operating income$21,838 $27,425

Operating margin29 %32 %

Other income (expense), net $65 $126

Net income$18,368 $23,619

Diluted EPS$1.44 $1.89

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Q2 2024 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended June 30,

20232024

Google Search & other$42,628 $48,509

YouTube ads7,665 8,663

Google Network7,850 7,444

Google advertising58,143 64,616

Google subscriptions, platforms, and devices8,142 9,312

Google Services total66,285 73,928

Google Cloud8,031 10,347

Other Bets285 365

Hedging gains (losses)3 102

Total revenues$74,604 $84,742

Total TAC$12,537 $13,387

Number of employees 181,798 179,582

Segment Operating Results

As announced on April 18, 2024, we further consolidated teams that focus on building AI models across Google Research and Google DeepMind to further accelerate our progress in AI. AI model development teams previously under Google Research in our Google Services segment are included as part of Google DeepMind, reported within Alphabet-level activities, prospectively beginning in the second quarter of 2024.

Quarter Ended June 30,

20232024

Operating income (loss):

Google Services$23,454 $29,674

Google Cloud395 $1,172

Other Bets(813)$(1,134)

Alphabet-level activities(1)

(1,198)$(2,287)

Total income from operations$21,838 $27,425

(1)In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $3 million and $102 million for the three months ended June 30, 2023 and 2024, respectively.

Additional Information Relating to the Quarter Ended June 30, 2024 (unaudited)

Dividend Program

Dividend payments to stockholders of Class A, Class B, and Class C shares were $1.2 billion, $173 million, and $1.1 billion, respectively, totaling $2.5 billion for the three months ended June 30, 2024. On July 23, 2024, Alphabet announced a cash dividend of $0.20 per share that will be paid on September 16, 2024, to stockholders of record as of September 9, 2024, on each of the company’s Class A, Class B, and Class C shares.

2

Webcast and Conference Call Information

A live audio webcast of our second quarter 2024 earnings release call will be available on YouTube at https://www.youtube.com/live/r9ylamQmNBU. The call begins today at 1:30 PM (PT) / 4:30 PM (ET). This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available at http://abc.xyz/investor.

We also provide announcements regarding our financial performance, including SEC filings, investor events, press and earnings releases, and blogs, on our investor relations website (http://abc.xyz/investor).

We also share Google news and product updates on Google’s Keyword blog at https://www.blog.google/, which may be of interest or material to our investors.

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertaintie

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Exhibit 99.1

Alphabet Announces First Quarter 2024 Results

MOUNTAIN VIEW, Calif. – April 25, 2024 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended March 31, 2024.

Sundar Pichai, CEO, said: “Our results in the first quarter reflect strong performance from Search, YouTube and Cloud. We are well under way with our Gemini era and there’s great momentum across the company. Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation.”

Ruth Porat, President and Chief Investment Officer; CFO said: “Our strong financial results for the first quarter reflect revenue strength across the company and ongoing efforts to durably reengineer our cost base. We delivered revenues of $80.5 billion, up 15% year-on-year, and operating margin expansion.”

Q1 2024 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended March 31, 2023 and 2024 (in millions, except for per share information and percentages).

Quarter Ended March 31,

20232024

(unaudited)

Revenues$69,787 $80,539

Change in revenues year over year3 %15 %

Change in constant currency revenues year over year(1) 6 %16 %

Operating income$17,415 $25,472

Operating margin25 %32 %

Other income (expense), net $790 $2,843

Net income$15,051 $23,662

Diluted EPS$1.17 $1.89

(1)    Non-GAAP measure. See the section captioned “Reconciliation from GAAP Revenues to Non-GAAP Constant Currency Revenues and GAAP Percentage Change in Revenues to Non-GAAP Percentage Change in Constant Currency Revenues” for more details.

Q1 2024 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended March 31,

20232024

Google Search & other$40,359 $46,156

YouTube ads6,693 8,090

Google Network7,496 7,413

Google advertising54,548 61,659

Google subscriptions, platforms, and devices7,413 8,739

Google Services total61,961 70,398

Google Cloud7,454 9,574

Other Bets288 495

Hedging gains (losses)84 72

Total revenues$69,787 $80,539

Total TAC$11,721 $12,946

Number of employees 190,711 180,895

Segment Operating Results

As announced on April 18, 2024, we are consolidating teams that focus on building artificial intelligence (AI) models across Google Research and Google DeepMind to further accelerate our progress in AI. AI model development teams previously under Google Research in our Google Services segment will be included as part of Google DeepMind, reported within Alphabet-level activities, prospectively beginning in the second quarter of 2024.

Quarter Ended March 31,

20232024

Operating income (loss):

Google Services$21,737 $27,897

Google Cloud191 $900

Other Bets(1,225)$(1,020)

Alphabet-level activities(1)

(3,288)$(2,305)

Total income from operations$17,415 $25,472

(1)In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $84 million and $72 million for the three months ended March 31, 2023 and 2024, respectively. For the three months ended March 31, 2023 and 2024, Alphabet-level activities included substantially all of the charges related to employee severance and our office space optimization efforts.

Additional Information Relating to the Quarter Ended March 31, 2024 (unaudited)

Dividend Program

Alphabet’s Board of Directors today approved the initiation of a cash dividend program, and declared a cash dividend of $0.20 per share that will be paid on June 17, 2024, to stockholders of record as of June 10, 2024, on each of the company’s Class A, Class B, and Class C shares. The company intends to pay quarterly cash dividends in the future, subject to review and approval by the company’s Board of Directors in its sole discretion.

Stock Repurchases

Alphabet’s Board of Directors today authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders, taking into account the economic cost and prevailing market conditions, including the relative trading prices and volumes of the Class A and Class C shares. The repurchases are expected to be executed from time to time, subject to

2

general business and market conditions and other investment opportunities, through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans.

Employee Severance and Related Charges

Compensation expenses included employee severance and related charges for the three months ended March 31, 2024 of $716 million, a $1.3 billion decrease in severance and related charges as compared to the three months ended March 31, 2023. For the first quarter of 2024, these charges are included within cost of revenues, research and development, sales and marketing, and

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Exhibit 99.1

Alphabet Announces Fourth Quarter and Fiscal Year 2023 Results

MOUNTAIN VIEW, Calif. – January 30, 2024 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter and fiscal year ended December 31, 2023.

Sundar Pichai, CEO, said: “We are pleased with the ongoing strength in Search and the growing contribution from YouTube and Cloud. Each of these is already benefiting from our AI investments and innovation. As we enter the Gemini era, the best is yet to come.”

Ruth Porat, President and Chief Investment Officer; CFO said: “We ended 2023 with very strong fourth quarter financial results, with Q4 consolidated revenues of $86 billion, up 13% year over year. We remain committed to our work to durably re-engineer our cost base as we invest to support our growth opportunities.”

Q4 2023 Financial Highlights

The following table summarizes our consolidated financial results for the quarters and years ended December 31, 2022 and 2023 (in millions, except for per share information and percentages).

Quarter Ended December 31,Year Ended December 31,

2022202320222023

(unaudited)(unaudited)

Revenues$76,048 $86,310 $282,836 $307,394

Change in revenues year over year1 %13 %10 %9 %

Change in constant currency revenues year over year(1) 7 %13 %14 %10 %

Operating income$18,160 $23,697 $74,842 $84,293

Operating margin24 %27 %26 %27 %

Other income (expense), net $(1,013)$715 $(3,514)$1,424

Net income$13,624 $20,687 $59,972 $73,795

Diluted EPS$1.05 $1.64 $4.56 $5.80

(1)    Non-GAAP measure. See the table captioned “Reconciliation from GAAP revenues to non-GAAP constant currency revenues and GAAP percentage change in revenues to non-GAAP percentage change in constant currency revenues” for more details.

Q4 2023 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended December 31,

20222023

Google Search & other$42,604 $48,020

YouTube ads7,963 9,200

Google Network8,475 8,297

Google advertising59,042 65,517

Google subscriptions, platforms, and devices(1) 8,796 10,794

Google Services total67,838 76,311

Google Cloud7,315 9,192

Other Bets226 657

Hedging gains (losses)669 150

Total revenues$76,048 $86,310

Total TAC$12,925 $13,986

Number of employees 190,234 182,502

(1)    Formerly “Google other.”

Segment Operating Results

Quarter Ended December 31,

20222023

Operating income (loss):

Google Services$20,222 $26,730

Google Cloud(186)864

Other Bets(1,237)(863)

Alphabet-level activities(1)

(639)(3,034)

Total income from operations$18,160 $23,697

(1)Formerly “corporate costs, unallocated.” In addition to the costs included in Alphabet-level activities, hedging gains (losses) related to revenue were $669 million and $150 million for the three months ended December 31, 2022 and 2023, respectively. For the quarter ended December 31, 2023, Alphabet-level activities included charges related to the reduction in force and our office space optimization efforts totaling $1.2 billion and $62 million in accelerated rent and accelerated depreciation.

Additional Information Relating to the Quarter Ended December 31, 2023 (unaudited)

Reductions in Our Workforce and Office Space

In January 2023, we announced a reduction of our workforce, and as a result we recorded employee severance and related charges of $2.1 billion for the twelve months ended December 31, 2023. In addition, we are taking actions to optimize our global office space. As a result, exit charges recorded during the three and twelve months ended December 31, 2023, were $1.2 billion and $1.8 billion, respectively. In addition to these exit charges, for the three and twelve months ended December 31, 2023, we incurred $62 million and $269 million, respectively, in accelerated rent and accelerated depreciation.

2

Severance and office space exit charges are included within our consolidated statements of income as follows (in millions):

Quarter Ended December 31, 2023

Year Ended December 31, 2023

Severance and Related Office SpaceTotal Severance and Related Office SpaceTotal

Cost of revenues$2 $235 $237 $479 $481 $960

Research and development1 602 603 848870 1,718

Sales and marketing3 198 201 497257 754

General and administrative1 161 162 264237 501

Total charges$7 $1,196 $1,203 $2,088 $1,845 $3,933

For segment reporting, the substantial majority of these charges are included within Alphabet-level activities in our segment results.

Change in Useful Lives of Our Server and Network Equipment

In January 2023, we completed an assessment of the useful lives of our servers and network equipment and adjusted the estimated useful life of our servers from four years to six years and the estimated useful life of certain network equipment from five years to six years. This change in accounting estimate was effective beginning in fiscal year 2023, and th

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Exhibit 99.1

Alphabet Announces Third Quarter 2023 Results

MOUNTAIN VIEW, Calif. – October 24, 2023 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended September 30, 2023.

Sundar Pichai, CEO, said: “I’m pleased with our financial results and our product momentum this quarter, with AI-driven innovations across Search, YouTube, Cloud, our Pixel devices and more. We’re continuing to focus on making AI more helpful for everyone; there’s exciting progress and lots more to come.”

Ruth Porat, President and Chief Investment Officer; CFO said: “The fundamental strength of our business was apparent again in Q3, with $77 billion in revenue, up 11% year over year, driven by meaningful growth in Search and YouTube, and momentum in Cloud. We continue to focus on judicious capital allocation to deliver sustainable financial value.”

Q3 2023 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended September 30, 2022 and 2023 (in millions, except for per share information and percentages).

Quarter Ended September 30,

20222023

Revenues$69,092 $76,693

Change in revenues year over year6 %11 %

Change in constant currency revenues year over year(1) 11 %11 %

Operating income$17,135 $21,343

Operating margin25 %28 %

Other income (expense), net $(902)$(146)

Net income$13,910 $19,689

Diluted EPS$1.06 $1.55

(1)    Non-GAAP measure. See the table captioned “Reconciliation from GAAP revenues to non-GAAP constant currency revenues and GAAP percentage change in revenues to non-GAAP percentage change in constant currency revenues” for more details.

Q3 2023 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended September 30,

20222023

Google Search & other$39,539 $44,026

YouTube ads7,071 7,952

Google Network7,872 7,669

Google advertising54,482 59,647

Google other6,895 8,339

Google Services total61,377 67,986

Google Cloud6,868 8,411

Other Bets209 297

Hedging gains (losses)638 (1)

Total revenues$69,092 $76,693

Total TAC$11,826 $12,642

Number of employees(1) 186,779 182,381

(1)    Substantially all of the employees affected by the reduction of our workforce were no longer included in our headcount as of September 30, 2023.

Segment Operating Results

As announced on April 20, 2023, we brought together part of Google Research (the Brain team) and DeepMind to significantly accelerate our progress in artificial intelligence (AI). The group, called Google DeepMind, is reported within Alphabet's unallocated corporate costs prospectively beginning in the second quarter of 2023. Previously, the Brain team was included within Google Services.

Quarter Ended September 30,

20222023

(recast)

Operating income (loss):

Google Services$18,883 $23,937

Google Cloud(440)266

Other Bets(1,225)(1,194)

Corporate costs, unallocated(1) (83)(1,666)

Total income from operations$17,135 $21,343

(1)In addition to the Alphabet-level costs included in unallocated corporate costs, hedging gains (losses) related to revenue were $638 million and $(1) million for the three months ended September 30, 2022 and 2023, respectively.

2

Additional Information Relating to the Quarter Ended September 30, 2023 (unaudited)

Reductions in Our Workforce and Office Space

In January 2023, we announced a reduction of our workforce, and as a result we recorded employee severance and related charges of $86 million and $2.1 billion for the three and nine months ended September 30, 2023, respectively. In addition, we are taking actions to optimize our global office space. As a result, exit charges recorded during the three and nine months ended September 30, 2023 were $16 million and $649 million, respectively. In addition to these exit charges, for the three and nine months ended September 30, 2023, we incurred $207 million in accelerated rent and accelerated depreciation. We may incur additional charges in the future as we further evaluate our real estate needs.

For segment reporting, the substantial majority of these charges are included within unallocated corporate costs in our segment results.

Change in Useful Lives of Our Server and Network Equipment

In January 2023, we completed an assessment of the useful lives of our servers and network equipment and adjusted the estimated useful life of our servers from four years to six years and the estimated useful life of certain network equipment from five years to six years. This change in accounting estimate was effective beginning in fiscal year 2023, and the effect was a reduction in depreciation expense of $977 million and $2.9 billion and an increase in net income of $761 million and $2.3 billion, or $0.06 and $0.18 per basic and $0.06 and $0.18 per diluted share for the three and nine months ended September 30, 2023, respectively.

EX-99.1

2 googexhibit991q22023.htm

EX-99.1

Document

Exhibit 99.1

Alphabet Announces Second Quarter 2023 Results

Announces Plans for Chief Financial Officer Transition and Appointment of President and Chief Investment Officer

MOUNTAIN VIEW, Calif. – July 25, 2023 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2023.

Sundar Pichai, CEO of Alphabet and Google, said: “There’s exciting momentum across our products and the company, which drove strong results this quarter. Our continued leadership in AI and our excellence in engineering and innovation are driving the next evolution of Search, and improving all our services. With fifteen products that each serve half a billion people, and six that serve over two billion each, we have so many opportunities to deliver on our mission.”

Ruth Porat, CFO of Alphabet and Google, said: “Our financial results reflect continued resilience in Search, with an acceleration of revenue growth in both Search and YouTube, as well as momentum in Cloud. We continue investing for growth, while prioritizing our efforts to durably reengineer our cost base company-wide and create capacity to deliver sustainable value for the long term.”

Q2 2023 Financial Highlights (unaudited)

The following table summarizes our consolidated financial results for the quarters ended June 30, 2022 and 2023 (in millions, except for per share information and percentages).

Quarter Ended June 30,

20222023

Revenues$69,685 $74,604

Change in revenues year over year13 %7 %

Change in constant currency revenues year over year(1) 16 %9 %

Operating income$19,453 $21,838

Operating margin28 %29 %

Other income (expense), net $(439)$65

Net income$16,002 $18,368

Diluted EPS$1.21 $1.44

(1)    Non-GAAP measure. See the table captioned “Reconciliation from GAAP revenues to non-GAAP constant currency revenues and GAAP percentage change in revenues to non-GAAP percentage change in constant currency revenues” for more details.

Q2 2023 Supplemental Information (in millions, except for number of employees; unaudited)

Revenues, Traffic Acquisition Costs (TAC), and Number of Employees

Quarter Ended June 30,

20222023

Google Search & other$40,689 $42,628

YouTube ads7,340 7,665

Google Network8,259 7,850

Google advertising56,288 58,143

Google other6,553 8,142

Google Services total62,841 66,285

Google Cloud6,276 8,031

Other Bets193 285

Hedging gains (losses)375 3

Total revenues$69,685 $74,604

Total TAC$12,214 $12,537

Number of employees(1) 174,014 181,798

(1)    The substantial majority of the employees affected by the reduction of our workforce are no longer included in our headcount as of June 30, 2023. We expect most of the remaining employees affected will no longer be reflected in our headcount by the end of 2023, subject to local law and consultation requirements.

Segment Operating Results

As announced on April 20, 2023, we brought together part of Google Research (the Brain team) and DeepMind to significantly accelerate our progress in artificial intelligence (AI). The group, called Google DeepMind, is reported within Alphabet's unallocated corporate costs prospectively beginning in the second quarter of 2023. Previously, the Brain team was included within Google Services.

Quarter Ended June 30,

20222023

(recast)

Operating income (loss):

Google Services$21,621 $23,454

Google Cloud(590)395

Other Bets(1,339)(813)

Corporate costs, unallocated(1) (239)(1,198)

Total income from operations$19,453 $21,838

(1)In addition to the Alphabet-level costs included in unallocated corporate costs, hedging gains (losses) related to revenue were $375 million and $3 million for the three months ended June 30, 2022 and 2023, respectively.

2

Additional Information Relating to the Quarter Ended June 30, 2023 (unaudited)

Reductions in Our Workforce and Office Space

In January 2023, we announced a reduction of our workforce, and as a result we recorded employee severance and related charges of $2.0 billion for the six months ended June 30, 2023. In addition, we are taking actions to optimize our global office space. As a result, total charges recorded during the six months ended June 30, 2023 were $633 million, of which $564 million and $69 million were recorded during the three months ended March 31, 2023 and June 30, 2023, respectively. We may incur additional charges in the future as we further evaluate our real estate needs.

For segment reporting, the substantial majority of these charges are included within unallocated corporate costs in our segment results.

Change in Useful Lives of Our Server and Network Equipment

In January 2023, we completed an assessment of the useful lives of our servers and network equipment and adjusted the estimated useful life of our servers from four years to six years and the estimated useful life of certain network equipment from five years to six years. This change in accounting estimate was effective beginning