Alphabet (GOOGL) Q1 2026 (USD): EPS 2.82 (exp. 2.63), Revenue 113.8bln (exp. 106.88bln)

• Raises dividend +5% to 0.22/shr
• Google Services revenue +16% to USD 89.637bln (exp. 88.11bln)
• Google Search & other +19% to USD 60.399bln (exp. 59.08bln)
• YouTube ads +11% to USD 9.883bln (exp. 9.97bln)
• Google subscriptions, platforms, and devices +19% to USD 12.384bln
• Google Cloud accelerated 63% to USD 20.028bln (exp. 18.41bln)
• Cloud operating income rose to USD 6.598bln from USD 2.177bln

COMMENTARY:

• 2026 is off to a terrific start.
• 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 USD 460bln
• Was the strongest quarter ever for our consumer AI, driven by the Gemini App; overall the number of paid subscriptions has now reached 350mln, with YouTube and Google One being the key drivers
• Gemini Enterprise has great momentum with 40% Q/Q in paid monthly active users.
• Waymo surpass 500,000 fully autonomous rides a week