Alphabet Inc. Reports Q1 2026 Revenue Growth and Backlog Surge

Alphabet Inc. reported consolidated revenue of $109.9 billion for the first quarter of 2026, marking a 22% increase. The company's financial results were characterized by strong earnings, margins, and a significant expansion in its backlog, which grew from $240 billion on December 31, 2025, to $462 billion by March 31, 2026.

Growth was driven largely by the company's cloud business, where year-over-year revenue growth accelerated from 48% in the fourth quarter to 63% in the first quarter.

In its second-quarter 2026 investor letter, Jensen Investment Management identified Alphabet as a material performance contributor. The firm noted that accelerating revenue growth in the search business over the previous four quarters has helped ease investor concerns that generative AI might disintermediate Alphabet's traditional search operations.