Google Q1 earnings supercharge Alphabet record, Cloud and AI revenue surge

Google Q1 earnings put Alphabet on track for a fresh record high, extending double-digit expansion. Shares rose more than 8% pre-market and the stock set a new intraday peak of $355.79, with investors watching for a new all-time high. Alphabet reported Q1 revenue of $109.9B (+22% YoY) for its 11th straight quarter of double-digit growth. Net income reached $62.6B, nearly doubling from $34.5B a year earlier. Google Q1 earnings also showed acceleration across key segments. Google Cloud topped $20B quarterly revenue (+63% YoY), with operating income tripling to $6.6B. The cloud backlog nearly doubled QoQ to $462B, with about half expected to convert within two years. Advertising and subscriptions strengthened: Google Search revenue grew 19% to $60.4B, YouTube ads rose 11% to $9.9B, and paid subscribers reached 350M (+25M in the quarter). AI momentum remained a focus. Gemini models processed 16B+ tokens per minute via direct API (+60% QoQ). Gemini Enterprise added 40% QoQ growth in paid monthly active users, while Gemini’s reported AI model share rose from 14% (Oct 2025) to 24% (Feb 2026). Waymo surpassed 500k fully autonomous rides per week, though the segment posted $2.1B operating losses. Overall, the message from Google Q1 earnings is clear: cloud scale and AI usage are translating into faster growth and stronger profitability.