Alphabet Inc. Q2 2026 Earnings
As seen on the 24/7 Wall St. homepage on July 22, 2026.
Q2 2026
EPS
$9.11
est $3.04
+199.4%
Revenue
$119.80B
est $116.91B
+2.5%
Alphabet crushed earnings with a $9.11 EPS beat that's heavily inflated by a $99 billion gain on equity securities, while the real story is Google Cloud's 82% growth and a punishing $45 billion quarterly capex bill that turned free cash flow negative. The company raised $70 billion to fuel its AI buildout, but that infrastructure spending spree is now outpacing operating cash flow, raising questions about the sustainability of this investment thesis.