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Q4 2025 Earnings — Results of Operations
Filed February 4, 2026
Revenue hit $113.8 billion in Q4, up 18% year-over-year, powered by Google Cloud's 48% surge to $17.7 billion and Search growing 17%, pushing full-year revenue past $400 billion for the first time. The massive signal for Alphabet's future trajectory: management guided 2026 capex of $175–$185 billion, a staggering bet that AI infrastructure demand across Cloud, Search, and Gemini (now at 750 million monthly active users) is just getting started.
Filing Items
Item 2.02 — Results of Operations
The company is reporting its quarterly or annual financial results. This is the filing that accompanies an earnings call.
Item 9.01 — Financial Statements
Financial statements and exhibits are attached to this filing. Usually accompanies other items rather than standing alone.
Extracted Milestones (5)
Google Paid Subscriptions Surpass 325 Million Subscribers
Paid subscriptions led by Google One and YouTube Premium have collectively surpassed 325 million subscribers.
Google Cloud Reaches $70 Billion Annual Run Rate
Google Cloud ended 2025 at an annual revenue run rate of over $70 billion, driven by enterprise AI infrastructure and AI solutions demand.
Gemini 3.0 Launched in November 2025, Outperforming Meta's Latest Model
Google's Gemini 3.0, released in November 2025, surpassed Meta's unreleased Avocado model in reasoning, coding, and writing capabilities according to internal Meta testing.
Gemini API Token Processing Scales to 10 Billion Tokens Per Minute
Gemini models are now processing over 10 billion tokens per minute via direct API, up from 7 billion tokens the prior quarter, indicating rapid developer platform scaling.
Waymo Raises Additional $16 Billion to Scale Autonomous Ride Service
Waymo secured an additional $16 billion in funding to expand its autonomous ride-hailing operations.