Alphabet Inc., the parent company of Google, operates as a collection of businesses with Google being the largest. The company reports its operations in three segments: Google Services, Google Cloud, and Other Bets. Alphabet Inc. generates revenue primarily through advertising, consumer subscriptions, and sales of apps and devices, with Google Services accounting for the majority of its revenue . Google Cloud provides infrastructure and platform services for enterprise customers, while Other Bets includes emerging businesses like Waymo and Wing, focusing on healthcare-related and internet services .
- Google Services - Encompasses products like ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube, generating revenue through advertising, consumer subscriptions, and sales of apps and devices .
- Advertising - Drives significant revenue through platforms like Google Search and YouTube .
- Consumer Subscriptions - Includes services like YouTube TV and YouTube Music .
- Google Cloud - Provides infrastructure, platform services, and collaboration tools for enterprise customers, contributing to revenue through consumption-based fees and subscriptions .
- Other Bets - Comprises emerging businesses such as Waymo and Wing, generating revenue primarily from healthcare-related services and internet services .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Anat Ashkenazi Executive | CFO and SVP of Alphabet and Google | None reported | Joined Alphabet in 2024; previously CFO at Eli Lilly; focuses on long-term investments and financial strategy. | |
Kent Walker Executive | President, Global Affairs, Chief Legal Officer, and Secretary | Executive Council at TechNet.org | Joined Google in 2006; oversees legal, compliance, and government affairs; advocates on competition and privacy issues. | |
Philipp Schindler Executive | SVP and Chief Business Officer | Scholar of the Studienstiftung des deutschen Volkes | Joined Google in 2005; oversees global sales, partnerships, and business operations. | |
Prabhakar Raghavan Executive | Chief Technologist of Google LLC | National Academy of Engineering; Fellow of ACM and IEEE | Joined Google in 2012; previously led Search and Ads; transitioned to Chief Technologist in 2024. | |
Ruth M. Porat Executive | President and Chief Investment Officer; CFO | Blackstone Inc.; Council on Foreign Relations; Memorial Sloan Kettering Cancer Center; Stanford Management Company; Bloomberg Philanthropies | Joined Alphabet in 2015 as CFO; extensive financial expertise; oversees investments and financial strategy. | |
Sundar Pichai Executive | CEO of Alphabet and Google | The Pichai Family Foundation | Joined Google in 2004; became CEO of Google in 2015 and CEO of Alphabet in 2019; led AI-focused strategy. | View Report → |
Frances H. Arnold Board | Independent Director | Illumina, Inc.; President’s Council of Advisors on Science and Technology; U.S. National Academies of Science, Medicine, and Engineering; California Institute of Technology | Nobel Prize-winning scientist; joined Alphabet's board in 2019; focuses on science and technology innovation. | |
John L. Hennessy Board | Chair of the Board of Directors | Gordon and Betty Moore Foundation; Queen Elizabeth Prize for Engineering Foundation; Chan Zuckerberg Biohub | Joined Alphabet's board in 2004; former President of Stanford University; provides strategic oversight as Chair of the Board. | |
K. Ram Shriram Board | Independent Director | Sherpalo Ventures; Yubico; Council on Foreign Relations; Stanford Health Care; Indiaspora | Early investor in Google; joined Alphabet's board in 1998; extensive experience in venture capital and technology. | |
L. John Doerr Board | Independent Director | Kleiner Perkins; DoorDash, Inc.; Climate Imperative; The Aspen Institute | Venture capitalist; joined Alphabet's board in 1999; extensive experience in technology investments. | |
Larry Page Board | Co-Founder and Director | Chair of the Executive Committee at Alphabet; The Carl Victor Page Memorial Foundation | Co-founded Google in 1998; served as CEO of Google and Alphabet; instrumental in developing Google's search engine and business model. | |
R. Martin Chávez Board | Independent Director | Sixth Street; Recursion Pharmaceuticals; Stanford Medicine Board; The Broad Institute of MIT and Harvard | Former Goldman Sachs executive; joined Alphabet's board in 2022; expertise in finance and technology. | |
Robin L. Washington Board | Independent Director | Honeywell International, Inc.; Salesforce, Inc.; Vertiv Holdings Co.; Mastercard Foundation; UCSF Benioff Children’s Hospital Oakland | Former CFO of Gilead Sciences; joined Alphabet's board in 2019; expertise in financial operations and corporate governance. | |
Roger W. Ferguson Jr. Board | Independent Director | Corning; International Flavors & Fragrances, Inc.; Smithsonian Institution; Group of Thirty | Former CEO of TIAA; joined Alphabet's board in 2016; expertise in economics and financial management. | |
Sergey Brin Board | Co-Founder and Director | The Sergey Brin Family Foundation | Co-founded Google in 1998; served as President of Google and Alphabet; contributed to Google's core technologies and innovation. |
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Google Cloud's operating margins have improved to 17% this quarter, but competitors in the industry have materially higher margins closer to 30%; what specific steps are you taking to further improve cloud margins, and how confident are you that you can match or exceed competitor margins in the future?
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Given the significant investments in AI and technical infrastructure leading to increased depreciation and expenses, how do you plan to balance these costs with the need for cost discipline and delivering profit growth, especially with anticipated headwinds in Q4 revenue due to hardware launch pull-forwards?
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With YouTube Shorts reaching over 70 billion daily views and the monetization gap with traditional in-stream content narrowing, what strategies are you implementing to further accelerate monetization of Shorts, and how significant do you expect Shorts to be in driving YouTube's overall ad revenue growth?
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As Waymo expands and serves over 150,000 paid rides weekly, can you provide more details on the financial performance and the path to profitability for Waymo, including timelines and how it will impact Alphabet's overall financials?
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With the introduction of AI-enabled search features and products powered by large language models like Gemini, how do you plan to monetize these new experiences without cannibalizing traditional search advertising revenues, and what are the potential risks and constraints to scaling these AI innovations across your vast user base?
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Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Mandiant | 2022 |
Recent press releases and 8-K filings for GOOGL.
- The European Commission is set to open an antitrust investigation into Alphabet’s Google over alleged manipulation of news publisher rankings in search results under the EU’s Digital Markets Act.
- Regulators are probing claims that Google demotes publishers featuring paid or sponsored content, which could breach DMA rules prohibiting gatekeeper manipulation.
- Violations of the DMA carry fines of up to 10% of global annual revenue, underscoring the high stakes of the probe.
- This action follows a recent €2.95 billion penalty imposed on Google for adtech competition distortions, highlighting mounting regulatory scrutiny in Europe.
- Alphabet’s Google unit enters a 15-year power purchase agreement to receive 1.5 TWh of certified renewable electricity from TotalEnergies’ Montpelier solar farm in Ohio.
- The renewable energy will power Google's data centers in Ohio, enhancing the reliability of its digital infrastructure.
- TotalEnergies is building a 10 GW U.S. renewable portfolio, including 1 GW in the PJM market and 4 GW in Texas.
- The Montpelier facility is nearing completion and is already connected to the PJM grid, aligning with TotalEnergies’ strategy to stabilize revenues via electricity sales.
- Turkcell and Google Cloud have formed a 2.5-year collaboration to launch Türkiye’s first hyperscale regional data center by 2028–2029.
- The facility will include at least three zones offering AI, data storage, and cybersecurity services with full data residency compliance.
- Turkcell plans to invest $1 billion by end-2032, aiming to more than double its data center capacity and generate over $5 billion in annual economic value.
- Google Cloud will use the new region to accelerate cloud migration in Türkiye, bolstered by Alphabet’s $3.52 trillion market capitalization.
- Google will invest €5 billion (approx. $5.8 billion) to expand its data center infrastructure in Germany, including a new facility in Dietzenbach and an extension of its Hanau site near Frankfurt.
- The project aims to meet rising demand for AI-driven computing capacity and leverages Frankfurt’s role as Europe’s internet hub and Germany’s emphasis on renewable energy.
- This mid-single-digit billion euro commitment represents one of Google’s largest infrastructure expansions in Europe to date.
- The expansion comes as Amazon, Microsoft, and Meta also intensify investments in AI-capable data centers, underscoring a competitive landscape.
- On November 6, 2025, Alphabet closed concurrent offerings of $17.5 billion aggregate principal of U.S. dollar senior notes and €6.5 billion of euro-denominated senior notes under Form S-3 (File No. 333-286752).
- The Euro Notes comprise €1 billion 2.375% notes due 2028; €1 billion 2.875% notes due 2031; €1 billion 3.125% notes due 2034; €1 billion 3.500% notes due 2038; €1.25 billion 4.000% notes due 2044; and €1.25 billion 4.375% notes due 2064.
- The U.S. Notes comprise $500 million floating rate notes due 2028; $1 billion 3.875% notes due 2028; $2.5 billion 4.100% notes due 2030; $1.25 billion 4.375% notes due 2032; $3.5 billion 4.700% notes due 2035; $2 billion 5.350% notes due 2045; $4 billion 5.450% notes due 2055; and $2.75 billion 5.700% notes due 2075.
- The DOJ approved Google’s $32 billion acquisition of cloud security startup Wiz, finding no substantial reduction in competition in the cloud security market.
- The deal, Google’s largest ever, is slated to close in 2026 but still requires other international regulatory approvals and customary closing conditions.
- Google faces a $3.2 billion breakup fee (about 10% of the deal value) if blocked by other regulators.
- The acquisition is aimed at bolstering Google Cloud’s security offerings to compete more effectively with Microsoft Azure and AWS.
- Alphabet returns to the European bond market with a €3 billion multi-tranche offering across six euro-denominated tranches (3- to 39-year maturities, 60–190 bps over mid-swaps) to fund AI and cloud infrastructure investments.
- The issuance underpins Alphabet’s record $91–93 billion capital expenditure plan for 2025, driven by surging revenues from AI and cloud services.
- Following a €6.75 billion euro bond earlier in 2025, Alphabet’s total debt remains modest at around $25 billion, compared with $90 billion in cash reserves and $65–70 billion in annual cash flow.
- Supported by Aa2 (Moody’s) and AA+ (S&P) credit ratings, the transaction is coordinated by Goldman Sachs, HSBC, and JPMorgan as joint global coordinators, highlighting strong investor demand.
- Google and Reliance Jio will give eligible Unlimited 5G subscribers (ages 18–25) 18 months of free Google AI Pro/Gemini Pro access via the MyJio app.
- The bundle, valued at Rs 35,100, includes Gemini 2.5 Pro, image/video models Nano Banana and Veo 3.1, expanded NotebookLM allowances, developer tools, and 2 TB of shared Google Cloud storage.
- Subscribers must maintain an Rs 349+ Unlimited 5G plan for the full 18 months; existing paid Gemini users can migrate to the complimentary offer once their term ends.
- Reliance Intelligence will serve as Google Cloud’s go-to partner in India to expand TPU access, promote Gemini Enterprise and AI agents, with a nationwide rollout following the initial youth-focused launch.
- Alphabet reported $102.3 billion in quarterly revenue, a 16% year-over-year increase driven by AI and advertising growth.
- Profit rose 33% to nearly $35 billion, exceeding analyst expectations.
- Google Cloud backlog grew 46% to $155 billion, while its Cloud revenue climbed 34%, underscoring strong enterprise demand.
- AI initiatives accelerated: the Gemini app reached 650 million monthly active users, and Google’s subscription services surpassed 300 million paid subscribers.
- The company raised its capital spending forecast to expand AI and data infrastructure amid ongoing legal requirements to share certain data.
- Consolidated revenues rose 16% year over year to $102.3 billion, or +15% in constant currency.
- Google Services revenues increased 14% to $87.1 billion, reflecting strong Search, YouTube ads and subscriptions growth.
- Google Cloud revenue surged 34% to $15.2 billion, led by GCP, AI Infrastructure and Generative AI Solutions.
- Net income was $35.0 billion (+33%) and diluted EPS $2.87 (+35%); GAAP operating margin was 30.5%, or 33.9% excluding the $3.5 billion EC fine.
- Raised full-year 2025 capital expenditure guidance to $91 billion–$93 billion.