Company: GOOGL
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001652044-25-000091
Chunk: 68

Company: Alphabet Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 68
---
 effect of reserve provisions and changes to reserves that are considered appropriate as well as the related net interest and penalties.

For additional information, see Note 1 of the Notes to Consolidated Financial Statements included in Part II, Item 8 in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 as well as Note 14 of the Notes to Consolidated Financial Statements included in Item 1 of this Quarterly Report on Form 10-Q.

Executive Overview

The following table summarizes consolidated financial results (in millions, except per share information and percentages):

Three Months EndedSeptember 30,20242025$ Change% ChangeConsolidated revenues$88,268 $102,346 $14,078 16 %Change in consolidated constant currency revenues(1)15 %Cost of revenues$36,474 $41,369 $4,895 13 %Operating expenses$23,273 $29,749 $6,476 28 %Operating income$28,521 $31,228 $2,707 9 %Operating margin32 %31 %(1)%Other income (expense), net$3,185 $12,759 $9,574 301 %Net income$26,301 $34,979 $8,678 33 %Diluted EPS (2)$2.12 $2.87 $0.75 35 %

(1)    See "Use of Non-GAAP Constant Currency Information" below for details relating to our use of constant currency information. 

(2)    For additional information on the calculation of diluted EPS, see Note 12 of the Notes to Consolidated Financial Statements included in Item 1 of this Quarterly Report on Form 10-Q.

•Revenues were $102.3 billion, an increase of 16% year over year, primarily driven by an increase in Google Services revenues of $10.5 billion, or 14%, and an increase in Google Cloud revenues of $3.8 billion, or 34%.

•Total constant currency revenues, which exclude the effect of hedging, increased 15% year over year.

•Cost of revenues was $41.4 billion, an increase of 13% year over year, primarily driven by increases in content acquisition costs, TAC, depreciation expense, and other technical infrastructure operations costs. 

39

•Operating expenses were $29.7 billion, an increase