Company: GOOGL
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001652044-25-000091
Chunk: 143

Company: Alphabet Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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4 billion compared to $253.4 billion in revenues, excluding hedging effect, for the nine months ended September 30, 2024.

EMEA revenue growth was favorably affected by changes in foreign currency exchange rates, primarily due to the U.S. dollar weakening relative to the euro and British pound, partially offset by the U.S. dollar strengthening relative to the Turkish lira.

APAC revenue growth was not materially affected by changes in foreign currency exchange rates, primarily due to the U.S. dollar strengthening relative to the Australian dollar and Indian rupee, partially offset by the U.S dollar weakening relative to the Japanese yen.

Other Americas revenue growth was unfavorably affected by changes in foreign currency exchange rates, primarily due to the U.S. dollar strengthening relative to the Brazilian real and Mexican peso.

Costs and Expenses

43

Cost of Revenues

The following table presents cost of revenues, including TAC (in millions, except percentages):Three Months EndedNine Months Ended September 30,September 30, 2024202520242025TAC$13,719 $14,876 $40,052 $43,329 Other cost of revenues22,755 26,493 65,641 73,439 Total cost of revenues$36,474 $41,369 $105,693 $116,768 Total cost of revenues as a percentage of revenues41 %40 %42 %40 %

Cost of revenues increased $4.9 billion from the three months ended September 30, 2024 to the three months ended September 30, 2025 due to an increase in other cost of revenues and TAC of $3.7 billion and $1.2 billion, respectively. Cost of revenues increased $11.1 billion from the nine months ended September 30, 2024 to the nine months ended September 30, 2025 due to an increase in other cost of revenues and TAC of $7.8 billion and $3.3 billion, respectively.

The increase in TAC from the three and nine months ended September 30, 2024 to the three and nine months ended September 30, 2025 was largely due to an increase in TAC paid to distribution partners, primarily driven by growth in revenues subject to TAC. The TAC rate decreased from 20.8% to 20.1% from the three months ended September 30, 2024 to the