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.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Analysis of Revenues
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Alphabet Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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).
- Revenue Trends
- Revenues exhibit a generally upward trend over the analyzed quarters, increasing from approximately $41.2 billion in Q1 2020 to a peak around $96.5 billion in Q4 2024 before a slight decline in Q1 2025 to $90.2 billion. Despite some quarter-to-quarter fluctuations, the long-term trajectory shows consistent growth, with notable acceleration in the second half of 2023 through 2024.
- Cost of Revenues
- The cost of revenues has steadily increased overall, moving from about $19.0 billion in Q1 2020 to around $40.6 billion in Q4 2024, paralleling revenue growth. There are periodic increases corresponding to revenue spikes, but some quarters like Q1 2025 show a decrease in cost relative to prior peaks, suggesting possible improvements in cost management or shifts in business mix.
- Gross Profit
- Gross profit shows growth aligned with revenues, climbing from $22.2 billion in Q1 2020 to a peak near $55.9 billion in Q4 2024. While some quarters reveal declines, gross profit remains robust, indicating that revenue increases are generally translating effectively into higher profit margins.
- Research and Development Expenses
- Research and development (R&D) expenses have profoundly trended upwards, starting at roughly $6.8 billion in Q1 2020 and reaching approximately $13.6 billion by Q1 2025. This steady increase reflects intensified investment in innovation or product development, growing commensurately with company scale.
- Sales and Marketing Expenses
- Sales and marketing expenditures fluctuate but overall show a moderate increase over time, from near $4.5 billion in early 2020 to about $7.4 billion in Q4 2024. The figures demonstrate some variability across quarters but do not grow as sharply as revenues or R&D costs.
- General and Administrative Expenses
- General and administrative costs display some variability without a clear linear trend, ranging from roughly $2.6 billion to over $5.2 billion in different quarters. Peaks are evident in late 2021 and late 2023, potentially reflecting one-time charges or increased administrative investments.
- Income from Operations
- Operating income has generally risen, moving from about $8.0 billion in Q1 2020 to more than $30.9 billion in Q4 2024. Despite some decline in a few quarters, the upward trajectory suggests improved operational efficiency and profitability.
- Other Income (Expense), Net
- Other income and expenses exhibit notable volatility, with swings from negative values (e.g., -$1.2 billion in Q1 2022) to large positive spikes (e.g., $11.2 billion in Q1 2025). This volatility suggests earnings from variable financial activities or fluctuating non-operational gains and losses that significantly impact pre-tax income.
- Income Before Income Taxes
- Earnings before tax follow the positive trend in operating income but are more volatile due to fluctuations in other income/expense. From approximately $7.8 billion in Q1 2020, the figure rises to nearly $41.8 billion in Q1 2025, indicating strong overall profitability improvement despite periodic dips.
- Provision for Income Taxes
- Income tax provisions rise over the period, increasing from about $0.9 billion in Q1 2020 to $7.2 billion in Q1 2025. Fluctuations in tax expense do not always precisely track income before tax, possibly due to changes in tax rates, deferred taxes, or tax planning strategies.
- Net Income
- Net income demonstrates solid growth from $6.8 billion in Q1 2020 to a peak of approximately $34.5 billion in Q1 2025. There are fluctuations in some quarters, with notable dips in early 2022, but the overall pattern is upward, reflecting improved profitability supported by revenue growth, operational efficiency, and significant gains in other income.