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Alphabet’s share price surged to an all-time high, exceeding US$380, following the release of its Q1 2026 earnings. The company continues to execute a full-stack approach to AI, successfully meeting robust demand while driving significant customer growth and product adoption across its ecosystem.
| Segmental Revenue | Q1 2025 (US$ million) | Q1 2026 (US$ million) | Percentage change |
| Google Services | 77,264 | 89,637 | +16.0% |
| -Google Search & other | 50,702 | 60,399 | +19.1% |
| -YouTube ads | 8,927 | 9,883 | +10.7% |
| -Google Network | 7,256 | 6,971 | -3.9% |
| -Google subscriptions, platforms, and devices | 10,379 | 12,384 | +19.3% |
| Google Cloud | 12,260 | 20,028 | +63.4% |
| Other Bets | 450 | 411 | -8.7% |
| Hedging gains (losses) | 260 | (180) | n.m. |
| Total | 90,234 | 109,896 | +21.8% |
The growth in Google Services revenue was due to the strength in Google Search, followed by subscriptions amid a strong foreign exchange tailwind. Google Search growth was led by growth in the retail, finance services, and health verticals. YouTube advertising revenue was led by Direct Response, followed by Brand. The strong revenue growth in from Google subscriptions, platforms, and devices was driven by both YouTube (across YouTube Music and Premium) and Google One subscriptions as demand for AI plans rose. Google Cloud…
