Alphabet's Google Cloud Revenue Grows 82% Year Over Year With $514 Billion Backlog
During Alphabet's Q2 earnings call on July 22, 2026, CEO Sundar Pichai reported that Google Cloud revenue grew by 82% year over year and now has a backlog of $514 billion. This figure exceeds the company’s trailing twelve months (TTM) total revenue of $446 billion as of June 30, 2026. Despite this impressive growth in cloud services, Search remains Alphabet's primary source of income, generating 55% of its TTM revenue with a year-over-year increase of 17%. Pichai emphasized that while Cloud is growing faster and has reached an operating margin of 35%, it still accounts for only 22% of the company’s total profit. However, he noted significant long-term potential as cloud adoption continues to expand. Pichai highlighted both Search and Cloud have substantial growth opportunities ahead. He pointed out that AI advancements are enhancing user engagement in core services while cloud workloads remain largely untapped by enterprises.
