Alphabet's Q2 2026 was massive

Here are the year-over-year numbers:
- Revenue up 24% to $119.80 billion
- Net income up 298% to $112.11 billion
- Google Cloud revenue up 82% to $24.77 billion
- YouTube ads revenue up 13% to $11.06 billion
- Other Bets revenue up 2% to $382 million
- Other Bets loss up 44% to $1.80 billion
- Traffic Acquisitions Costs up 10% to $16.18 billion
- Employees up 6% to 198,933

Investors loved that cloud revenue is growing even faster, aren't thrilled with Gemini’s delayed release schedule, and really want to understand the capex plans.

Full results: https://s206.q4cdn.com/479360582/files/doc_financials/2026/q2/2026q2-alphabet-earnings-release.pdf

I originally published this as a post on LinkedIn.