The earnings call highlighted significant growth in key areas such as Search, YouTube, and Cloud, driven by AI advancements and strong customer demand. However, challenges such as legal expenses and network advertising revenue decline were noted. Overall, the sentiment is positive with the highlights outweighing the lowlights.

Company Guidance -

Q3 2025

During the Alphabet Second Quarter 2025 Earnings Conference Call, Sundar Pichai highlighted the company's robust growth driven by advancements in artificial intelligence (AI) across various segments. Search experienced double-digit revenue growth, with AI Overviews now having over 2 billion monthly users. YouTube's revenue from shorts now matches traditional in-stream ads, contributing to a 13% increase in advertising revenue. Google Cloud's annual revenue run rate surpassed $50 billion, with significant demand for its AI product portfolio, including Gemini models, which saw a 35x usage growth year-over-year. Alphabet's consolidated revenue reached $96.4 billion, a 14% increase year-over-year, with Google Services contributing $83 billion. Operating income rose to $31.3 billion with a 32.4% margin, while free cash flow was $5.3 billion for the quarter. The company plans to invest approximately $85 billion in CapEx for 2025, largely to meet cloud customer demand.

Strong Overall Performance

Alphabet reported a 14% increase in consolidated revenue, reaching $96.4 billion, driven by strong growth in Search, YouTube, subscriptions, devices, and Google Cloud.

Search Revenue Growth

Search and other revenues increased by 12% to $54.2 billion, with growth across all verticals, particularly retail and financial services.

YouTube Performance

YouTube advertising revenues increased by 13% to $9.8 billion, driven by direct response advertising followed by brand. Additionally, YouTube Shorts averaged over 200 billion daily views.

Cloud Revenue Growth

Google Cloud revenues increased by 32% to $13.6 billion, with strong performance across core and AI products. Cloud operating income increased to $2.8 billion, with an operating margin of 20.7%.

AI and Gemini Developments

Strong demand for AI products, with Gemini usage growing 35x year-over-year. The Gemini app now has over 450 million monthly active users, and the AI Mode has over 100 million monthly active users.

Waymo Expansion

Waymo expanded its service territories in several cities and has now autonomously driven over 100 million miles on public roads.

Alphabet Class A (GOOGL) Earnings, Revenues Date & History

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GOOGL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	2.33 / -	2.12	―	―	―
Jul 23, 2025	2025 (Q2)	2.18 / 2.31	1.89	22.22% (+0.42)
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)	―

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

GOOGL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$190.23	―	―
Apr 24, 2025	$159.09	$161.76	+1.68%
Feb 04, 2025	$205.89	$190.88	-7.29%
Oct 29, 2024	$169.09	$173.85	+2.82%

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.