Alphabet (GOOG) GOOG Q4 Financial Results Summary
QuoteReporter
Alphabet Inc. (GOOG, GOOGL) Q4 2025 Financial Results Summary
Release Date: February 4, 2026
Alphabet Inc. (NASDAQ: GOOG, GOOGL) released its financial results for the quarter ended December 31, 2025. Below is a summary of the key metrics and highlights from the report.
Financial Highlights
- Consolidated Revenues:
- Increased by 18% year-over-year (YoY) to $113.8 billion.
-
Constant currency revenue growth was 17%.
-
Business Segment Performance:
- Google Services Revenues:
- Increased by 14% YoY to $95.9 billion.
- Breakdown of growth:
- Google Search & other: 17%
- Google subscriptions, platforms, and devices: 17%
- YouTube Ads: 9%
- YouTube Revenue:
- Exceeded $60 billion for the whole of 2025 from ads and subscriptions.
-
Google Cloud Revenues:
- Increased 48% YoY to $17.7 billion.
- Growth attributed to increased demand for Google Cloud Platform (GCP) services, particularly in enterprise AI Infrastructure and Solutions.
-
Operating Income and Margins:
- Operating Income:
- Increased by 16% to $35.9 billion.
- Operating Margin: Remained steady at 31.6%.
-
Notably included a $2.1 billion employee compensation charge related to Waymo.
-
Net Income and Earnings Per Share (EPS):
- Net Income: Increased by 30% YoY to $34.5 billion.
- EPS: Increased by 31% YoY to $2.82.
Operational Highlights
- Employee Growth:
-
Number of employees increased to 190,820, up from 183,323 in the same quarter last year.
-
CapEx Investments for 2026:
- Anticipated to be between $175 billion to $185 billion to meet customer demand and capitalize on growth opportunities.
Additional Financial Activities
- Dividend Declaration:
-
The Board declared a quarterly cash dividend of $0.21 per share, payable on March 16, 2026, to stockholders of record as of March 9, 2026.
-
Share Repurchase Activity:
- Reported $5.5 billion in stock repurchases during the fourth quarter, a decrease from $15.6 billion YoY.
Year-End Revenue Summary
- Annual Revenues:
- Surpassed $400 billion for the first time in the company’s history, totaling $402.8 billion for 2025, up from $350 billion in 2024, reflecting a 15% growth.
Geographic Revenue Breakdown for Q4 2025
- United States:
-
Revenues grew by 17% to $55.4 billion.
-
EMEA:
-
Revenues increased by 17% to $33.1 billion. Excluding hedging losses, growth was 12%.
-
APAC:
-
Revenues saw a 22% increase to $18.5 billion.
-
Other regions:
- Revenues rose 20% to $6.9 billion.
Conclusion
Alphabet’s Q4 2025 results indicate robust growth across multiple business segments, fueled by advancements in Google Cloud and increasing revenues from services such as YouTube. The continuation of significant capital expenditure coupled with a declared dividend illustrates the company’s ongoing commitment to shareholder returns and investment in growth areas.
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
| Quarter Ended December 31, | Year Ended December 31, | |||
|---|---|---|---|---|
| 2024 | 2025 | 2024 | 2025 | |
| Revenues | $ 96,469 | $ 113,828 | $ 350,018 | $ 402,836 |
| Costs and expenses: | ||||
| Cost of revenues | 40,613 | 45,766 | 146,306 | 162,535 |
| Research and development | 13,116 | 18,572 | 49,326 | 61,087 |
| Sales and marketing | 7,363 | 8,215 | 27,808 | 28,693 |
| General and administrative | 4,405 | 5,341 | 14,188 | 21,482 |
| Total costs and expenses | 65,497 | 77,894 | 237,628 | 273,797 |
| Income from operations | 30,972 | 35,934 | 112,390 | 129,039 |
| Other income (expense), net | 1,271 | 3,183 | 7,425 | 29,787 |
| Income before income taxes | 32,243 | 39,117 | 119,815 | 158,826 |
| Provision for income taxes | 5,707 | 4,662 | 19,697 | 26,656 |
| Net income | $ 26,536 | $ 34,455 | $ 100,118 | $ 132,170 |
| Basic net income per share | $ 2.17 | $ 2.85 | $ 8.13 | $ 10.91 |
| Diluted net income per share | $ 2.15 | $ 2.82 | $ 8.04 | $ 10.81 |
| Number of shares used in basic net income per share calculation | 12,228 | 12,073 | 12,319 | 12,116 |
| Number of shares used in diluted net income per share calculation | 12,348 | 12,228 | 12,447 | 12,230 |
CONSOLIDATED BALANCE SHEETS
(In millions, except par value per share amounts)
| Assets | As of December 31, | |
|---|---|---|
| 2024 | 2025 | |
| Current assets: | ||
| Cash and cash equivalents | $ 23,466 | $ 30,708 |
| Marketable securities | 72,191 | 96,135 |
| Total cash, cash equivalents, and marketable securities | 95,657 | 126,843 |
| Accounts receivable, net | 52,340 | 62,886 |
| Other current assets | 15,714 | 16,309 |
| Total current assets | 163,711 | 206,038 |
| Non-marketable securities | 37,982 | 68,687 |
| Deferred income taxes | 17,180 | 9,113 |
| Property and equipment, net | 171,036 | 246,597 |
| Operating lease assets | 13,588 | 15,221 |
| Goodwill | 31,885 | 33,380 |
| Other non-current assets | 14,874 | 16,245 |
| Total assets | $ 450,256 | $ 595,281 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | $ 7,987 | $ 12,200 |
| Accrued compensation and benefits | 15,069 | 17,546 |
| Accrued expenses and other current liabilities | 51,228 | 55,557 |
| Accrued revenue share | 9,802 | 10,864 |
| Deferred revenue | 5,036 | 6,578 |
| Total current liabilities | 89,122 | 102,745 |
| Long-term debt | 10,883 | 46,547 |
| Income taxes payable, non-current | 8,782 | 9,531 |
| Operating lease liabilities | 11,691 | 12,744 |
| Other long-term liabilities | 4,694 | 8,449 |
| Total liabilities | 125,172 | 180,016 |
| Commitments and contingencies | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.001 par value per share, 100 shares authorized; no shares issued and outstanding | 0 | 0 |
| Class A, Class B, and Class C stock and additional paid-in capital, $0.001 par value per share: 300,000 shares authorized (Class A 180,000, Class B 60,000, Class C 60,000); 12,211 (Class A 5,835, Class B 861, Class C 5,515) and 12,088 (Class A 5,822, Class B 837, Class C 5,429) shares issued and outstanding | 84,800 | 93,126 |
| Accumulated other comprehensive income (loss) | -4,800 | -1,916 |
| Retained earnings | 245,084 | 324,055 |
| Total stockholders’ equity | 325,084 | 415,265 |
| Total liabilities and stockholders’ equity | $ 450,256 | $ 595,281 |