Alphabet

NASDAQ: GOOGL

Revenue

$445.87B

+20.1% YoY

Gross margin

60.9%

+195 bps YoY

Operating income

$147.63B

+21.6% YoY

Free Cash Flow to Firm

−$4.57B

Last twelve months to June 30, 2026

Business overview

Company overview

Alphabet is a collection of businesses, with Google the largest. Google is reported as Google Services and Google Cloud; non-Google businesses are grouped as Other Bets.

How Alphabet makes money

Alphabet earns revenue from online advertising, cloud infrastructure, platform services and applications, and products such as subscriptions, apps, in-app purchases and devices.

Bull case

Alphabet believes AI can bring meaningful positive change to its business.

Bear case

Alphabet faces a rapidly evolving, intensely competitive environment, with changing technologies, shifting user needs and frequent rival product launches.