The earnings call highlighted significant growth across Alphabet's business segments, particularly in AI and cloud initiatives, with strong revenue and user engagement metrics. While there are concerns about network advertising declines and increasing depreciation expenses, the positive momentum in key areas like YouTube, Google Cloud, and AI developments suggest an overall positive sentiment.

Company Guidance -

Q2 2025

During the first quarter of 2025 earnings call, Alphabet Inc. provided several forward-looking metrics and insights into its business operations across various segments. The company reported consolidated revenues of $90.2 billion, marking a 12% year-over-year increase, with Google Services contributing $77.3 billion driven by a 10% increase in both Search and YouTube advertising revenues. Google Cloud revenue surged by 28% to $12.3 billion, reflecting strong demand for AI and core products. Subscription platforms and device revenues grew 19% to $10.4 billion, attributed largely to YouTube subscriptions and Google One. Operating income rose by 20% to $31 billion, with an operating margin increase to 33.9%, benefiting from revenue growth and cost management. The company highlighted the successful deployment of its Gemini 2.5 AI model, which has enhanced performance across its product lines, including Search, where AI Overviews now serves over 1.5 billion users monthly. Alphabet anticipates continued investments in AI and cloud infrastructure, with approximately $75 billion planned for 2025 CapEx, to support sustained growth and innovation.

Record-Breaking Revenue and Growth

Alphabet Inc. reported consolidated revenues of $90.2 billion, representing a 12% increase year-over-year, with a 14% increase in constant currency.

AI Initiatives Drive Growth

AI Overviews now has over 1.5 billion users per month, and Gemini 2.5 has been recognized as the best AI model in the industry. Active users in AI Studio and Gemini API have grown over 200% since the beginning of the year.

Strong Performance in Google Cloud

Google Cloud revenue increased by 28% to $12.3 billion, with an operating income increase to $2.2 billion and operating margin rising to 17.8%.

YouTube and Subscription Growth

YouTube Music and Premium reached over 125 million subscribers, and YouTube advertising revenues increased by 10% to $8.9 billion.

Waymo Expansion

Waymo is now serving over a quarter of a million paid passenger trips each week, a 5x increase from a year ago, with expansion plans in Atlanta and other cities.

Alphabet Class C (GOOG) Earnings, Revenues Date & History

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GOOG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 29, 2025	2025 (Q2)	2.16 / -	1.89	―	―	―
Apr 24, 2025	2025 (Q1)	2.02 / 2.81	1.89	48.68% (+0.92)
Feb 04, 2025	2024 (Q4)	2.12 / 2.15	1.64	31.10% (+0.51)	―
Oct 29, 2024	2024 (Q3)	1.84 / 2.12	1.55	36.77% (+0.57)	―
Jul 23, 2024	2024 (Q2)	1.85 / 1.89	1.44	31.25% (+0.45)	―
Apr 25, 2024	2024 (Q1)	1.51 / 1.89	1.17	61.54% (+0.72)	―
Jan 30, 2024	2023 (Q4)	1.59 / 1.64	1.05	56.19% (+0.59)	―
Oct 24, 2023	2023 (Q3)	1.46 / 1.55	1.06	46.23% (+0.49)	―
Jul 25, 2023	2023 (Q2)	1.34 / 1.44	1.21	19.01% (+0.23)	―
Apr 25, 2023	2023 (Q1)	1.08 / 1.17	1.231	-4.96% (-0.06)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GOOG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 24, 2025	$161.28	$163.65	+1.47%
Feb 04, 2025	$207.22	$192.85	-6.93%
Oct 29, 2024	$170.55	$175.53	+2.92%
Jul 23, 2024	$182.72	$173.54	-5.02%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.