Alphabet - C

Q2 FY2026 EarningsQ2 FY26 results significantly beat consensus across the board, with revenue of $119.8B (+24% YoY) vs. $117.0B expected and Diluted EPS of $9.11 vs. $2.90 expected. The massive EPS beat was primarily driven by $99.0B in unrealized investment gains from SpaceX and a private entity, rather than core operations alone. Google Cloud surged 82% YoY to $24.8B, far exceeding internal growth trajectories, while Search and YouTube remained robust. High capital expenditures of $44.9B reflect aggressive AI infrastructure scaling, exceeding consensus expectations of $44.9B.