Q3 2025 Alphabet Inc Earnings Call Transcript
Key Points
- Alphabet Inc (GOOG) reported its first-ever $100 billion quarter, showcasing significant revenue growth.
- AI is driving substantial business results, with AI infrastructure and models like Gemini contributing to growth.
- Google Cloud experienced accelerating growth, with a 46% increase in backlog and strong demand for AI products.
- YouTube remains a leader in streaming watch time and has seen growth in both advertising and subscription revenues.
- Waymo is expanding its autonomous services to new cities and has secured permissions for fully autonomous operations at major airports.
- Operating expenses increased by 28%, driven by compensation, depreciation, and a $3.5 billion European Commission fine.
- Network advertising revenues declined by 3% year over year.
- The company faces a tight demand-supply environment in its Cloud segment, impacting its ability to meet customer demand.
- Depreciation expenses are expected to increase due to significant investments in technical infrastructure.
- Year-over-year comparisons in advertising will be negatively impacted by the strong spend on US elections in the previous year.
Welcome, everyone. Thank you for standing by for the Alphabet third quarter 2025 earnings conference call. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Jim Friedland, Head of Investor Relations.
Thank you. Good afternoon, everyone, and welcome to Alphabet's third quarter 2025 earnings conference call. With us today are Sundar Pichai, Philipp Schindler, and Anat Ashkenazi.
Now, I'll quickly cover the Safe Harbor. Some of the statements that we make today regarding our business, operations, and financial performance may be considered forward-looking.
Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our Forms 10-K and 10-Q, including the risk factors.
We undertake no obligation to update any forward-looking statement. During this call, we will present both GAAP and non-GAAP financial
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