Google Cloud Crosses $20B in Q1 as Alphabet Revenue Hits $109.9B

Alphabet reported Q1 2026 results on April 29, beating expectations on nearly every metric. Total revenue reached $109.9 billion, up 22% year over year, while net income jumped 81% to $62.58 billion ($5.11 per share).

Google Cloud Milestone

The standout result was Google Cloud, which posted $20.03 billion in revenue — a 63% year-over-year increase and its first quarter above the $20 billion mark. The result beat the Street's consensus of $18.05 billion. Cloud backlog nearly doubled quarter over quarter to over $460 billion, reflecting strong forward demand for AI infrastructure and enterprise services.

AI Investment

Alphabet raised its full-year capital expenditure guidance to as much as $190 billion, reflecting continued investment in AI infrastructure. CEO Sundar Pichai attributed the growth acceleration to demand for AI solutions and AI infrastructure across Google Cloud Platform.

Market Reaction

Alphabet stock rose approximately 6% after the report — the strongest post-earnings reaction among the four hyperscalers that reported simultaneously on April 29. Meta stock fell on capex concerns, while Microsoft and Amazon saw more muted reactions.

Source: CNBC, 9to5Google