Alphabet posts record Q2 revenue as Google Cloud jumps 82%
Alphabet reported its 2026 second-quarter results after the U.S. market close on July 22, posting the highest quarterly revenue in its history at $119.8 billion, up 24% from $96.4 billion a year earlier, or 23% on a constant-currency basis. Operating income reached $40.77 billion, while net income surged to $112.1 billion from $28.2 billion in the same period last year. A major driver of that jump was $99.03 billion in gains from equity securities booked under “other income.” CNBC said the figure included both realized and unrealized gains and losses, and noted that Alphabet holds investments in Anthropologie and SpaceX. Google Cloud stood out as the quarter’s main growth engine, with revenue of $24.77 billion, up 82% year over year, helped by demand for AI infrastructure and solutions. Alphabet also said nearly 90% of Fortune 100 companies are using Gemini Enterprise, Gemini models now process up to 22 billion API tokens per minute, and the Gemini app has 950 million monthly active users. Investors are also watching capital spending, after Alphabet raised its 2026 capex guidance to $18 billion-$19 billion and said spending is expected to increase again in 2027.








