Stock Analysis on Net
Stock Analysis on Net

Alphabet Inc. (NASDAQ:GOOG)

Income Statement 
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Alphabet Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Revenues 96,428 90,234 96,469 88,268 84,742 80,539 86,310 76,693 74,604 69,787 76,048 69,092 69,685 68,011 75,325 65,118 61,880 55,314 56,898 46,173 38,297 41,159
Cost of revenues (39,039) (36,361) (40,613) (36,474) (35,507) (33,712) (37,575) (33,229) (31,916) (30,612) (35,342) (31,158) (30,104) (29,599) (32,988) (27,621) (26,227) (24,103) (26,080) (21,117) (18,553) (18,982)
Gross profit 57,389 53,873 55,856 51,794 49,235 46,827 48,735 43,464 42,688 39,175 40,706 37,934 39,581 38,412 42,337 37,497 35,653 31,211 30,818 25,056 19,744 22,177
Research and development (13,808) (13,556) (13,116) (12,447) (11,860) (11,903) (12,113) (11,258) (10,588) (11,468) (10,267) (10,273) (9,841) (9,119) (8,708) (7,694) (7,675) (7,485) (7,022) (6,856) (6,875) (6,820)
Sales and marketing (7,101) (6,172) (7,363) (7,227) (6,792) (6,426) (7,719) (6,884) (6,781) (6,533) (7,183) (6,929) (6,630) (5,825) (7,604) (5,516) (5,276) (4,516) (5,314) (4,231) (3,901) (4,500)
General and administrative (5,209) (3,539) (4,405) (3,599) (3,158) (3,026) (5,206) (3,979) (3,481) (3,759) (5,096) (3,597) (3,657) (3,374) (4,140) (3,256) (3,341) (2,773) (2,831) (2,756) (2,585) (2,880)
Income from operations 31,271 30,606 30,972 28,521 27,425 25,472 23,697 21,343 21,838 17,415 18,160 17,135 19,453 20,094 21,885 21,031 19,361 16,437 15,651 11,213 6,383 7,977
Other income (expense), net 2,662 11,183 1,271 3,185 126 2,843 715 (146) 65 790 (1,013) (902) (439) (1,160) 2,517 2,033 2,624 4,846 3,038 2,146 1,894 (220)
Income before income taxes 33,933 41,789 32,243 31,706 27,551 28,315 24,412 21,197 21,903 18,205 17,147 16,233 19,014 18,934 24,402 23,064 21,985 21,283 18,689 13,359 8,277 7,757
Provision for income taxes (5,737) (7,249) (5,707) (5,405) (3,932) (4,653) (3,725) (1,508) (3,535) (3,154) (3,523) (2,323) (3,012) (2,498) (3,760) (4,128) (3,460) (3,353) (3,462) (2,112) (1,318) (921)
Net income 28,196 34,540 26,536 26,301 23,619 23,662 20,687 19,689 18,368 15,051 13,624 13,910 16,002 16,436 20,642 18,936 18,525 17,930 15,227 11,247 6,959 6,836

Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Revenues
Revenues displayed a generally upward trend over the entire period, starting at 41,159 million US$ in March 2020 and reaching 96,428 million US$ by June 2025. Periodic fluctuations were observed, such as a noticeable increase from December 2023 to December 2024 and some quarter-to-quarter variability, but overall growth was consistent and significant.
Cost of Revenues
The cost of revenues followed a similar ascending pattern, increasing from -18,982 million US$ in March 2020 to -39,039 million US$ in June 2025. Costs rose steadily, reflecting both increased scale and possible inflationary or operational cost factors. The rise in costs was proportional but at a lower pace than revenues, suggesting maintenance or improvement in operational efficiency.
Gross Profit
Gross profit increased consistently, beginning at 22,177 million US$ in March 2020 and reaching 57,389 million US$ in June 2025. The growth in gross profit mirrors the revenue increase but at an accelerated rate, indicating effective management of costs relative to revenue.
Research and Development (R&D) Expenses
R&D expenditures showed a clear upward trend, with amounts increasing from -6,820 million US$ in March 2020 to -13,808 million US$ in June 2025. This suggests continued investment in innovation and product development, with occasional increments that may reflect strategic priorities or expansion in R&D activities.
Sales and Marketing Expenses
Sales and marketing costs increased overall from -4,500 million US$ to -7,101 million US$ in June 2025, though some quarters showed minor declines or level-offs. The general rise points to sustained efforts in market expansion and customer acquisition, in line with growing revenue.
General and Administrative (G&A) Expenses
G&A expenses showed variability but exhibited a general increasing trend, expanding from -2,880 million US$ in March 2020 to -5,209 million US$ in June 2025. Occasional sharp increases in certain quarters suggest one-time expenses or reinvestments in administrative capacity correlating with company growth.
Income from Operations
Operating income rose significantly over the period, from 7,977 million US$ to 31,271 million US$, reflecting strong operational profitability. While some fluctuations occurred, the overall trend indicates enhanced operational efficiency and successful revenue growth outpacing related costs.
Other Income (Expense), Net
Other income (expense) showed volatility with both positive and negative values across quarters. Notable spikes occurred in March 2025 (11,183 million US$), indicating substantial non-operating gains. The variability suggests exposure to financial instruments, investments, or unusual items impacting net income outside core operations.
Income Before Income Taxes
Income before taxes increased markedly from 7,757 million US$ in March 2020 up to 41,789 million US$ in March 2025 before slightly declining. This reflects overall profitability improvements consistent with operating income enhancement and fluctuating other income effects.
Provision for Income Taxes
Tax provisions generally increased, moving from -921 million US$ to -7,249 million US$, corresponding to higher pre-tax income. However, some fluctuations indicate varying effective tax rates or changes in tax strategy.
Net Income
Net income followed a positive trajectory, growing from 6,836 million US$ to 34,540 million US$ and then dipping somewhat towards the end of the period. The growth signifies improved profitability, although the late-period volatility and dip suggest potential challenges or one-time impacts reducing net profit despite high revenues.