[Alphabet Financial Anatomy Part 1]: The Truth Behind a 4x Net Profit — The Shock of SpaceX Valuation Gains at $99 Billion and the Explosive Growth of Google Cloud
ICHIRO|Balance Sheet Anatomy Lab
Alphabet Inc. (Google) filed Form 10-Q for the second quarter of 2026 (April–June) with the SEC, with astonishing earnings figures recorded for the market.
Year-over-year revenue rose by 24.2%, operating income by 30.4%, demonstrating that core business continued to grow powerfully, while net income surged to about four times the previous year (+297.9%), reaching $121.920 million (over ¥17 trillion) and jumping higher.
In this series (4 installments in total), the first installment dissects the company’s income statement (P/L) in depth, clarifying the solid momentum in Google Cloud and search advertising, and the accounting reality behind the "9.9 billion-dollar non-operating gain" that pushed net income to abnormal levels.