Overview
- Alphabet delivered $102.3 billion in Q3 2025 revenue, up 16% year over year, marking its first quarter above $100 billion and beating Wall Street estimates.
- Google Cloud revenue rose 34% to $15.2 billion, supported by a roughly $155 billion backlog that enhances near-term visibility.
- The company lifted its 2025 capital spending plan to $91–$93 billion after investing $23.9 billion in Q3 to scale data centers, TPUs, and AI capacity.
- AI Overviews and AI Mode are driving search query growth as Gemini reaches about 650 million monthly active users, while advertising still accounts for roughly 73% of revenue.
- Waymo plans new robotaxi launches in Dallas, Nashville, Denver, and Seattle with expansion to Tokyo and London, as analysts raise price targets such as Evercore ISI’s move to $325.