Alphabet, Google's parent company headquartered in Mountain View, California, reported second-quarter 2026 results on July 22, with revenue jumping 24% year-over-year to $119.8 billion, topping analyst estimates of $116.9 billion. Adjusted EPS came in at $2.85, while GAAP diluted EPS surged to $9.11 from $2.31 a year earlier, boosted by $98 billion in other income tied to equity-securities gains. Google Cloud revenue soared 82% to $24.8 billion, with operating income nearly tripling to $8.8 billion. Google Services revenue rose 15% to $94.5 billion, led by Search's 17% jump to $63.3 billion and YouTube ads climbing 13% to $11.1 billion. Consolidated operating income increased 30% to $40.8 billion, with operating margin expanding to 34%, and net income soared 298% to $112.1 billion. Management raised full-year 2026 capital expenditures outlook to $195 billion to $205 billion, up from $180 billion to $190 billion. CEO Sundar Pichai highlighted Google Cloud's backlog growth of over $50 billion to $514 billion. Shares trade around $354, near the all-time high of $408.61, with an 81% gain over the past year. In an AI leadership shakeup, Chief Scientist Jeff Dean is departing after 27 years to launch