Alphabet Inc. announced on Wednesday that its revenue for the second quarter of fiscal 2026 rose by 24% compared to the same period a year before, reaching $119.8 billion and surpassing analysts' projections.
The tech company's net income climbed to $112.2 billion from $28.2 billion reported in the second trimester of 2025, while diluted earnings per share (EPS) stood at $9.11, up from $2.31 seen a year ago. Additionally, the company's revenue stemming from its cloud division amounted to $24.8 billion, surging 82% year-over-year, while revenue from services increased by 15% to $94.5 billion.
"Our AI investments are redefining what's possible across every part of our business. Q2 was an amazing quarter, with Alphabet revenues growing 24% year-over-year and Google Cloud revenues accelerating to 82% growth, driven by demand for AI infrastructure and AI solutions. It's great to see wide adoption of Gemini Enterprise, with nearly 90% of the Fortune 100 using it," CEO Sundar Pichai commented.
Alphabet Class A shares fell by 2.17% in after-hours trading following the release of the report, while its Class C shares worsened by 2.55%.
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