Alphabet's revenue re-accelerated to $119.8B in Q2 2026, up 24.2% year over year, with gross margins holding near 60% and forward P/E of 14.16 suggesting the market prices in limited growth despite that momentum.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue grew from $84.7B in Q2 2024 to $119.8B in Q2 2026 while gross margin stayed in a 57.9% to 62.4% band, indicating stable structural profitability.
Google Cloud is projected to achieve over 50% year-over-year revenue growth, driven by enterprise AI adoption and Gemini integration.
Alphabet has a Cloud backlog exceeding $460 billion, providing strong revenue visibility for future growth.
Significant investments in AI infrastructure, including custom TPUs and Gemini models, are expected to differentiate Alphabet in the market.
Alphabet's CapEx is guided between $175 billion and $190 billion in 2026, raising concerns about future free cash flow.
Ongoing antitrust actions could impact revenue growth and earnings, posing a significant risk to the stock.
There is a risk that AI compute could commoditize faster than contracts can pay back, affecting profitability.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | $2.12-29.6% vs $3.01 | $127.6B-0.3% vs $128.0B |
Q3 2026 Jul 22, 2026 | $9.11+217.4% vs $2.87 | $119.8B+2.8% vs $116.5B |
Q2 2026 Apr 29, 2026 | $5.11+90.7% vs $2.68 | $109.9B+2.7% vs $107.0B |
Q1 2026 Feb 4, 2026 | $2.82+7.2% vs $2.63 | $113.8B+2.3% vs $111.3B |
Alphabet's stake in SpaceX keeps growing, yet its seat at the table just vanished. With a huge computing contract in play and no replacement named, the filing leaves one question hanging over both stocks.
Google's parent company, Alphabet (NASDAQ: GOOGL), has increased its exposure to Elon Musk's SpaceX (NASDAQ: SPCX), adding millions of shares in the aerospace and artificial intelligence (AI) company.
The Nasdaq has fallen since September, but Alphabet, Amazon, and Netflix are benefiting from AI and everyday consumer behavior across searching, shopping, and streaming. Alphabet trades at about 18 times forward earnings after a 19% drop, with Search ad revenue up 12%.
Google Search revenue growth slowed to just 12% last quarter. There's a big shift going on in how people use Google Search.
Benchmark GOOG against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Alphabet Inc. (GOOG)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $283.93 | $3.44T | 26.27 | 15.13% | 32.8% | 35.7% | 0.29% | |
| $610.15 | $1.55T | 25.97 | 22.17% | 31.15% | 30.27% | 0.34% | |
| $530.61 | $3.94T | 29.56 | 17.79% | 41.17% | 33.21% | 0.67% | |
| $259.30 | $2.79T | 36.16 | 12.38% | 16.9% | 26.71% | — | |
| $342.37 | $5.03T | 45.89 | 6.43% | 27.6% | 127.61% | 0.3% | |
| $81.87 | $27.85B | 46.45 | -3.04% | -2.9% | -1.61% | — |
Alphabet Inc. (GOOG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Alphabet Inc. (GOOG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Aug 10, 2026·SEC
Jul 22, 2026·SEC
Feb 5, 2026·SEC
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Alphabet Inc. (GOOG) stock FAQ — growth, dividends, profitability & financials explained
Alphabet Inc. (GOOG) reported $471.10B in revenue over the trailing twelve months. Revenue was $402.96B in fiscal year 2025. That is 91585% more than the $439.5M of fiscal year 2002.
Alphabet Inc. (GOOG) grew revenue by 15.1% in fiscal year 2025, compared with the prior fiscal year.
Yes. Alphabet Inc. (GOOG) earned $235.69B in net income over the trailing twelve months (a 50.0% net margin).
Yes. Alphabet Inc. (GOOG) pays a dividend that yields 0.29% at the current price, a small yield.
Alphabet Inc. (GOOG) had a return on equity (ROE) of 35.7% in fiscal year 2025. That is well above the market's typical 10-15%.
Alphabet Inc. (GOOG) generated $19.75B in free cash flow over the trailing twelve months.
