Alphabet Q3 Revenue $102.3B; AI and Cloud Fuel Growth

Alphabet reported a record Q3 2025 with $102.3 billion in revenue — its first $100B quarter — and net income of nearly $35 billion, with EPS around $2.87, comfortably beating analysts’ estimates. The gains were powered by surging AI demand and Google Cloud, which grew roughly 34% to about $15.1–15.2 billion and ended the quarter with a $155 billion backlog. Revenue from generative‑AI products rose more than 200% and the Gemini app surpassed 650 million monthly active users. Management raised 2025 capital spending guidance to $91–93 billion to fund data centers, custom AI chips and servers, and Google Cloud closed an unusually large number of multibillion‑dollar enterprise contracts. Alphabet disclosed a planned acquisition of Wiz to bolster cloud security and said it excluded a €/US$ regulatory charge to show improved operating margins, while the quarter comes amid ongoing legal scrutiny including the DOJ case. Shares jumped in after‑hours trading and have climbed strongly year‑to‑date.