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    Alphabet Inc (GOOGL)

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    Business Description

    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 .

    1. 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 .
    2. Google Cloud - Provides infrastructure, platform services, and collaboration tools for enterprise customers, contributing to revenue through consumption-based fees and subscriptions .
    3. Other Bets - Comprises emerging businesses such as Waymo and Wing, generating revenue primarily from healthcare-related services and internet services .

    Key Metrics

    View all financials →
    Revenue by Segment - in Millions of USDQ3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Google Services76,311272,54370,39873,92876,510129,182350,01877,264
    - Google Search & Other48,02175,03346,15648,50949,385-90,01654,03450,702
    - YouTube Ads9,231,5108,0908,6638,921-15,20110,4738,927
    - Google Network8,29731,3127,4137,4447,548-14,4517,9547,256
    - Google Advertising Total65,517237,85561,65964,61665,854-119,66872,46166,885
    - Google Subscriptions, Platforms, and Devices10,79434,6888,7399,31210,656-17,07411,63310,379
    - Google Other--------
    Google Cloud9,19233,0889,57410,34711,353-19,31911,95512,260
    Other Bets6571,527495365388-848400450
    Hedging Gains (Losses)152367210217-17120260
    Total Revenues86,31307,39480,53984,74288,26896,469350,01890,234
    Revenue by Geography - in Millions of USDQ3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    United States41,995146,28638,73741,19643,13947,375170,44743,964
    EMEA25,0191,03823,78824,68325,47228,184102,12725,923
    APAC13,97951,51413,28913,82314,54715,15656,81514,854
    Other Americas5,17618,3204,6534,9385,0935,73420,4185,233
    United Kingdom--------
    Rest of the World--------
    Hedging gains (losses)1523672---211260
    Total Revenue86,31307,39480,53984,74288,26896,469350,01890,234
    KPIs - Metric Name (Unit & Scale)Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Traffic Acquisition Cost (millions of USD)-50,88612,94613,38713,71914,848--
    Traffic Acquisition Cost Rate (percentage)-21.421.020.720.820.49%--
    Number of employees (count)-182,502180,895179,582181,269183,323--
    Change in paid clicks for Google Search & other (percentage)-7%5%6%4%---
    Change in cost-per-click for Google Search & other (percentage)-1%8%7%8%---
    Change in impressions for Google Network (percentage)--5%-13%-17%-14%---
    Change in cost-per-impression for Google Network (percentage)-0%14%13%15%---

    Leadership

    NamePositionExternal RolesShort 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.

    Questions to Ask Management

    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Share Repurchase Program

    Program DetailsProgram 1Program 2
    Approval DateApril 2023 April 2024
    End Date/DurationCompleted during Q3 2024 Not specified
    Total additional amount$70.0 billion $70.0 billion
    Remaining authorization amount$0 $59.7 billion
    DetailsCompleted No expiration date

    Debt Maturity Schedule

    YearAmount Due (in billions)Debt TypeInterest Rate (%)% of Total Debt
    20241.0Short-term commercial paperN/A6.8% = (1.0 / 14.785) * 100
    20250.999Current portion of long-term notesN/A6.8% = (0.999 / 14.785) * 100
    20251.368Current portion of finance leases & otherN/A9.3% = (1.368 / 14.785) * 100
    2025–206012.0Long-term notes0.45–2.25 (coupon)81.1% = (12.0 / 14.785) * 100

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP1999 PresentCurrent auditor

    Recent Mergers & Acquisitions

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Mandiant

    2022

    Latest news

    Recent press releases and 8-K filings for GOOGL.

    Alphabet Highlights YouTube Innovation and Expansion
    •GOOGL
    New Projects/Investments
    Revenue Acceleration/Inflection
    • YouTube’s 20th anniversary marks its evolution from simple video uploads to a dynamic global creator ecosystem, emphasizing creator tools and community building.
    • Connected TV remains a key growth driver, with YouTube leading in streaming and achieving over 1 billion hours of engagement globally, shifting consumption to home screens.
    • Monetization enhancements are underway, including improved ad targeting on Shorts—now matching traditional in-stream revenue per watch hour through AI and creative product innovations.
    • Subscription services are expanding, with YouTube Music and Premium reaching 125 million subscribers and plans to introduce new affordable SKUs like Premium Lite.
    May 15, 2025, 3:21 PM
    Transcript
    Alphabet Q1 2025 Earnings: Solid Growth, AI Innovation & Strong Shareholder Returns
    •GOOGL
    Earnings
    Revenue Acceleration/Inflection
    New Projects/Investments
    Dividends
    Share Buyback
    • Alphabet's Q1 2025 revenues reached $90.2 billion (up 12%), driving operating income to $31 billion and margin expansion to 33.9%/34% .
    • Google Cloud revenue surged 28% to $12.3 billion, with operating income rising to $2.2 billion and margin improving to 17.8% .
    • Net income surged 46% with diluted EPS increasing to $2.81, underscoring robust financial performance .
    • Investments in AI innovation remain a focus, highlighted by the rollout of Gemini 2.5 and AI Overviews reaching 1.5 billion monthly users .
    • The board declared a quarterly cash dividend of $0.21 per share—a 5% increase—alongside $15.1 billion in share repurchases and authorization of up to $70 billion in buybacks .
    Apr 24, 2025, 8:31 PM
    Transcript8-K
    Alphabet Reports Mixed Antitrust Decision
    •GOOGL
    Legal Proceedings
    • Alphabet Inc. disclosed on April 17, 2025 that a U.S. District Court ruling found its advertiser tools and acquisitions (DoubleClick and AdMeld) not anticompetitive, but determined its publisher tools violated antitrust laws.
    • Google, a subsidiary of Alphabet, announced plans to appeal the adverse portion of the decision regarding its publisher tools.
    Apr 18, 2025, 12:00 AM
    8-K
    Alphabet to Acquire Cloud Security Leader Wiz
    •GOOGL
    M&A
    New Projects/Investments
    • Alphabet Inc. announced the acquisition of Wiz, Inc., a leading cloud security platform, for $32 billion in an all-cash transaction, as detailed in the investor presentation.
    • The deal is expected to close in 2026 subject to customary closing conditions and regulatory approvals, positioning Wiz within the Google Cloud segment.
    • The presentation outlines a strategy to enhance multicloud security capabilities and leverage AI expertise, emphasizing forward-looking benefits and integration plans.
    Mar 18, 2025, 12:00 AM
    8-K