+15.1% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income
132,170,000,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin
32.0% (FY ended 2025-12-31)
Forward P/E
Unavailable: no dated forecast source
Gloria daily close for session Oct 27, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.
Alphabet Inc. and its peers
Company
Price
Market cap
P/E (trailing)
Forward P/E
Annual revenue (USD)
Annual revenue growth
Annual net income (USD)
Operating margin
Alphabet Inc.
GOOGL · Price dated Oct 27, 2026 · tokenized GOOGLx
3,333,751,000FY ended 2025-12-31, attributable to the company · 10-K
75.8%FY ended 2025-12-31
Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.
Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 28, 2026, 4:51 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.
Token vs underlying stock
Current comparison for GOOGL. Historical observations may postdate this article.
Split-adjusted regular-session stock closes from the existing Gloria shared history, paired only with an observed token price within 45 minutes of 16:00 New York time. Up to 60 matched sessions. No interpolation or missing-date fill. Weekends and known early closes are omitted. Token units are not adjusted for issuer multipliers or dividend treatment. This compares quoted prices, not fair value, executable premiums or arbitrage returns. Solid line: token. Dashed line: stock. Exact quote times and values appear below. Historical observations. Retrieval refers to the token source. Token quote times use UTC. The fixed cohort shows its oldest member fetch.
Alphabet token vs Alphabet stock: exact source values
Quoted token and share units can have different rights, multipliers and dividend treatment. This is not an executable premium or arbitrage signal.
Alphabet and Microsoft just showed Wall Street how lucrative the AI arms race can be when you sell the weapons. Google Cloud more than doubled its revenue year-over-year, and Microsoft’s Azure grew 48% in its latest quarter.
The catch is that some of their best customers are also their fiercest competitors. Reuters Breakingviews describes the next frontier in AI as figuring out how to manage corporate frenemies, and these numbers show why that problem is getting expensive.
The numbers behind the cloud boom
Alphabet reported Google Cloud revenue of $30.71 billion for Q3 2026. That works out to a 103% increase from the same period a year earlier.
Analysts had expected growth of roughly 95%, which would have put revenue at about $29.57 billion. Google cleared that bar by more than a billion dollars.
Microsoft’s Azure business grew 48% in the company’s fiscal Q1 2027, reaching approximately $33.17 billion in revenue. On top of that, Microsoft recorded $10 billion in revenue tied to its arrangements with OpenAI during the quarter.
The growth is not free, though. Alphabet posted negative free cash flow of $9.07 billion in Q3 2026. Its AI-related capital expenditures for the quarter totaled $51.36 billion.
Partner, supplier, and rival all at once
The relationships underneath these figures are tangled. Reuters Breakingviews notes that Google is simultaneously a part-owner of Claude maker Anthropic, a supplier to it, and a competitor against it.
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Anthropic’s contractual commitments show how deep these ties run. The AI lab has committed at least roughly $114.5 billion to Google through July 2033.
It has also made commitments of approximately $110 billion to Amazon and approximately $44.9 billion to Microsoft. That spreads its bets across all three major cloud providers.
Those platforms matter to Anthropic’s top line too. About 48% of the company’s revenue in the first half of 2026 came through the three cloud providers.
Microsoft’s situation with OpenAI follows a similar pattern. The $10 billion in quarterly OpenAI-related revenue makes the startup a major contributor to Microsoft’s results, even as both companies sell AI products to many of the same enterprise buyers.
The $700 billion question
Alphabet and Microsoft are not alone in their spending spree. Alphabet, Microsoft, Amazon, and Meta are collectively projected to spend more than $700 billion on AI infrastructure in 2026.
Alphabet’s quarter illustrates the tension neatly. A 103% jump in cloud revenue is the kind of growth most companies only see in pitch decks. Pairing it with $9.07 billion in negative free cash flow is the kind of detail that makes finance chiefs reach for antacids.
What this means for investors and the AI industry
Anthropic’s multi-cloud approach already hints at that leverage. Splitting commitments across Google, Amazon, and Microsoft means no single provider has an exclusive grip on its business.
There is also the competitive overlap to watch. Google sells its own AI models while hosting a rival’s. Microsoft distributes OpenAI technology while building its own capabilities.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
