Alphabet posts record annual revenue, crosses $400-billion milestone
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For the full year 2025, Alphabet reported revenue of $402.84 billion, up from $350.02 billion in 2024, marking a 15% year-on-year increase, including 15% growth in constant currency.
Lauding the milestone, Sundar Pichai, CEO of Alphabet and Google, said, “It was a tremendous quarter for Alphabet and annual revenues exceeded $400 billion for the first time. The launch of Gemini 3 was a major milestone and we have great momentum. Our first party models, like Gemini, now process over 10 billion tokens per minute via direct API use by our customers, and the Gemini App has grown to over 750 million monthly active users.”
Elon Musk congratulated Pichai on X, after the latter posted about the results, thanking partners and employees. “Well done,” Musk wrote.
Alphabet’s Q4 performance
Alphabet’s fourth-quarter revenue rose to $113.83 billion in 2025, compared with $96.47 billion in Q4 2024, reflecting an 18% year-on-year growth, or 17% growth in constant currency. The company’s operating income for Q4 2025 increased to $35.93 billion, compared with $30.97 billion in the same quarter last year. For the full year, operating income rose to $129.04 billion in 2025, up from $112.39 billion in 2024.
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Alphabet’s operating margin remained steady at 32% for both the quarter and the full year across 2024 and 2025. Other income (expense), net, increased to $3.18 billion in Q4 2025, compared with $1.27 billion a year earlier. For the full year, it rose sharply to $29.79 billion, from $7.43 billion in 2024.
Alphabet’s net income for Q4 2025 climbed to $34.46 billion, compared with $26.54 billion in Q4 2024. For the full year 2025, net income rose to $132.17 billion, up from $100.12 billion in 2024.
Alphabet’s total revenue rose to $113.83 billion in Q4 2025, up from $96.47 billion in Q4 2024. Revenue from Google Search and other increased to $63.07 billion, compared with $54.03 billion a year earlier. YouTube advertising revenue grew to $11.38 billion, up from $10.47 billion in the year-ago quarter. Revenue from the Google Network declined slightly to $7.83 billion, compared with $7.95 billion last year. Overall Google advertising revenue rose to $82.28 billion, up from $72.46 billion in Q4 2024.
Revenue from Google subscriptions, platforms, and devices increased to $13.58 billion, compared with $11.63 billion a year earlier. Total revenue from Google Services rose to $95.86 billion, up from $84.09 billion last year. Google Cloud revenue climbed to $17.66 billion, compared with $11.96 billion in the year-ago quarter. Revenue from Other Bets declined to $370 million, from $400 million last year. Alphabet reported a hedging loss of $68 million, compared with a hedging gain of $20 million in Q4 2024.