Alphabet posted Q1 2026 adjusted EPS $5.11 vs $2.62 consensus, revenue $109.9bn up 22% YoY, beating estimates.
Google Cloud revenue surged 63% to $20bn, with backlog nearly doubling QoQ to over $460bn, driving strong growth.
Operating margin rose to 36.1% (up 2 pp), net income jumped 81% aided by $37.7bn unrealized equity gains.
Alphabet announced 5% dividend increase to $0.22 per share and total paid subscriptions hit 350 million, with Gemini Enterprise up 40% QoQ.