Reported information
Alphabet: Google Cloud revenue doubles as investment absorbs cash flow
Alphabet announced quarterly revenue of $127.6 billion on 28 October 2026, up 25% year on year. Google Cloud reached $30.7 billion, up 103%, which the company attributes in part to AI infrastructure and solutions.
The quarter ended 30 September produced $40.6 billion of operating income. But purchases of property and equipment reached $51.4 billion against $42.3 billion of operating cash flow, leaving free cash flow at approximately negative $9.1 billion.
Net income available to common shareholders fell to $26.2 billion, with investment losses among the factors. Cloud growth should not be read as revenue generated exclusively by AI.