Alphabet's Q2 2026 Earnings: A Quarter of Record-Breaking Growth and Innovation
Alphabet, the parent company of Google, has reported a quarter of record-breaking growth and innovation in its second quarter earnings for 2026. According to the company's latest conference call transcript, Alphabet revenue grew by 24% year-over-year, with search and other revenues seeing a 17% increase.
The company's AI investments have been a key driver of this growth, with Sundar Pichai, CEO of Alphabet and Google, highlighting the importance of these investments in redefining what is possible across every part of the business. The company has seen strong demand for its Gemini Enterprise platform, with nearly 90% of Fortune 100 companies using it.
One of the standout features of the quarter was the launch of new AI models, including Gemini 3.6 Flash and 3.5 Flash-Lite, which are cost-effective and highly efficient. The company also launched Gemini 3.5 Flash Cyber, which pairs with its CodeMender agent to find and fix vulnerabilities and deliver performance at the frontier comparable to far bigger cyber models.
The demand for these models has been huge, with more than 9 million developers building each month using Alphabet's APIs and key developer products. The company's model APIs are now processing approximately 22 billion tokens per minute, up from 16 billion just a quarter ago.
Another innovation highlighted by the company was the launch of Omni, which allows users to create anything from any input, starting with video. Since launching at I/O in May, there has been a 40% increase in daily active users creating videos on the Gemini app.
The company's Gemma family of open models, small enough to run on local devices, have been hugely popular, with over 900 million downloads and its latest Gemma 4 models having been downloaded over 300 million times since launching in April. The agentic development platform, Antigravity, allows anyone to build in the agent-first era and has more than 2.4 million weekly active users.
In terms of global product footprint, Alphabet's Search continues to drive an expansionary moment with new experiences resonating with users and driving growth in queries. The company brought together AI Overviews and AI Mode into one seamless Search experience that combines its frontier capabilities with the best of the web.
