Alphabet reported fiscal 2026 second-quarter revenue of $119.8 billion, up 24% from a year earlier and above analysts’ expectations of $117.06 billion, as advertising and cloud growth remained strong. Net income rose to $112.11 billion, or $9.11 per share, from $28.2 billion, or $2.31 per share, a year earlier, helped by a roughly $98 billion gain on equity investments, mainly tied to SpaceX. The company did not provide an adjusted earnings figure comparable with Wall Street estimates, which were $2.88 per share. Advertising growth was supported by Google Search and World Cup-related spending, especially on YouTube, while cloud revenue benefited from demand for Alphabet’s AI portfolio spanning chips, models, data, security and agent platforms. CEO Sundar Pichai said the company’s AI investments are reshaping its businesses, and eMarketer analyst Nate Elliott said Gemini was close to becoming Google’s third consumer AI product with 1 billion users, alongside AI Overviews and AI Mode. Alphabet shares rose $2.71 to $344.62 in after-hours trading.