NASDAQ$GOOG

Alphabet · Q1 2025 earnings

Q1 2025 earnings · · After market close · Investor relations

Briefing

Alphabet reported Q1 2025 revenue of $80.5B with net income of $23.7B and diluted EPS of $1.89.

Consolidated revenue was $80.5 billion for the quarter ended March 31, 2025, with Google Services and Cloud contributing to growth. Net income was $23.7 billion ($1.89 diluted EPS). Management highlighted AI infrastructure investment, Search and Cloud momentum, and ongoing capital returns.

  • Q1 revenue $80.5B; net income $23.7B.
  • Diluted EPS $1.89; Cloud and Services drove mix.
  • CapEx and AI infrastructure spend remain elevated.
  • Regulatory and competition risks affect ad pricing.

Headline financials

Total Revenue

$90.2B

Previous: $80.5B+12.1%
EPS (adj)

$1.89

Previous: $1.89+0.0%
Cloud Op Margin

12.0%

Previous: 9.4%+27.7%
Operating Margin

33.2%

Previous: 31.6%+5.1%
Capital Expenditures

$19.5B

Previous: $12B+62.5%
Free Cash Flow

$14.8B

Previous: $16.8B-11.9%
Net Income

$34.5B

Previous: $23.7B+45.7%
Operating Income

$27.3B

Previous: $25.5B+7.1%
Gross Profit

$47.4B

Previous: $46.4B+2.2%
Cash & Equivalents

$96.2B

Previous: $108B-10.9%

Revenue & EPS history

Alphabet · Revenue · Quarterly

$90.2B

Q1 2025+12.1%vs Q1 2024
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Alphabet · $110B total across 3 segments · Q1 2026

  • Google Services
    $89.6B
  • Google Cloud
    $20B
  • Other Bets
    $411M

Forward guidance

The quarterly filing discusses operating priorities, liquidity, and sector risks.

Tailwinds

  • MD&A outlines strategic priorities and capital allocation.
  • Segment commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items can affect year-over-year comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+1.2%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+1.8%

Avg return

30 days after

62%

40 / 65 earnings

Positive

+20.1%

Q2 2015

Best reaction

-8.4%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.4%+10.6%+8.4%
Q4 2025-4.2%-4.4%-10.5%
Q3 2025-1.6%+5.8%+19.3%
Q2 2025+0.9%+2.6%+7.9%
Q1 2025+1.5%-0.4%+5.0%
Q4 2024-6.9%-9.4%-15.4%
Q3 2024+4.6%-0.3%-0.4%
Q2 2024-4.9%-6.8%-8.8%
Q1 2024+7.8%+4.8%+11.6%
Q4 2023-8.4%-5.3%-9.8%
Q3 2023-8.1%-10.5%+1.5%
Q2 2023+6.4%+9.1%+7.0%
Q1 2023-2.2%+1.3%+16.5%
Q4 2022+3.7%+6.5%-7.3%
Q3 2022-7.9%-6.2%-4.0%
Q2 2022+5.0%+7.8%+8.8%
Q1 2022-6.7%-6.7%-12.1%
Q4 2021+9.1%+5.4%-1.0%
Q3 2021+5.5%+6.8%+5.7%
Q2 2021-2.3%-3.2%+1.8%
Q1 2021+2.3%+3.6%+3.3%
Q4 2020+8.9%+10.3%+7.8%
Q3 2020+6.9%+8.8%+18.2%
Q2 2020-2.6%-3.7%+8.0%
Q1 2020+5.1%+3.5%+11.0%
Q4 2019+0.9%+3.1%-3.3%
Q3 2019-0.2%+0.7%+3.8%
Q2 2019+9.9%+7.7%+1.2%
Q1 2019-6.6%-6.8%-12.2%
Q4 2018+3.2%-1.4%+4.2%
Q3 2018+2.0%-1.4%-2.6%
Q2 2018+5.3%+4.5%+1.9%
Q1 2018-4.9%-4.0%+0.6%
Q4 2017-5.0%-7.6%-7.8%
Q3 2017+4.7%+4.4%+6.9%
Q2 2017-2.3%-3.2%-4.7%
Q1 2017+3.9%+5.1%+11.4%
Q4 2016-1.5%-4.7%-0.8%
Q3 2016-0.5%-1.9%-4.7%
Q2 2016+3.6%+4.0%+3.7%
Q1 2016-4.5%
Q4 2015+2.9%
Q3 2015+9.2%
Q2 2015+20.1%
Q1 2015+4.8%
Q4 2014+4.8%
Q3 2014-3.6%
Q2 2014+2.1%
Q1 2014-0.1%
Q4 2013+6.7%
Q3 2013+1.2%
Q2 2013-2.4%
Q1 2013+2.2%
Q4 2012+5.2%
Q3 2012+1.0%
Q2 2012+0.1%
Q1 2012+0.9%
Q4 2011+3.0%
Q3 2011-6.1%
Q2 2011+4.8%
Q1 2011+1.7%
Q4 2010+0.9%
Q3 2010-0.4%
Q2 2010-3.2%
Q1 2010+0.4%

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