How Google makes money

Sources

• Alphabet Inc. Form 10-K for the fiscal year ended December 31, 2025 · Alphabet Inc. (filed with the U.S. SEC), 2025
• Meta Platforms, Inc. Form 10-K for the fiscal year ended December 31, 2025 · Meta Platforms, Inc. (filed with the U.S. SEC), 2025
• Amazon.com, Inc. Form 10-K for the fiscal year ended December 31, 2025 · Amazon.com, Inc. (filed with the U.S. SEC), 2025

Every number

• $402.8Bsec.gov ·2025 · Revenues, 2025 (income statement).
• $162.5Bsec.gov ·2025 · Cost of revenues, 2025 (income statement).
• $61.1Bsec.gov ·2025 · Research and development, 2025 (income statement).
• $28.7Bsec.gov ·2025 · Sales and marketing, 2025 (income statement).
• $21.5Bsec.gov ·2025 · General and administrative, 2025 (income statement).
• $129Bsec.gov ·2025 · Income from operations, 2025 (income statement).
• $29.8Bsec.gov ·2025 · Other income (expense), net, 2025 (income statement).
• $26.7Bsec.gov ·2025 · Provision for income taxes, 2025 (income statement).
• $132.2Bsec.gov ·2025 · Net income, 2025 (income statement).
• $224.5Bsec.gov ·2025 · Google Search & other revenues: ads on Google Search and other Google sites like Maps, Gmail and Play, 2025.
• $40.4Bsec.gov ·2025 · YouTube ads revenues, 2025.
• $29.8Bsec.gov ·2025 · Google Network revenues: ads Google places on partners' websites and apps, 2025.
• $294.7Bsec.gov ·2025 · Google advertising revenues (Search & other, YouTube ads and Google Network), 2025.
• $48Bsec.gov ·2025 · Google subscriptions, platforms, and devices revenues, 2025.
• $58.7Bsec.gov ·2025 · Google Cloud revenues, 2025.
• $1.4Bsec.gov ·2025 · Worked out: Other Bets revenues plus hedging losses, 2025.
• $59.9Bsec.gov ·2025 · Traffic acquisition costs (TAC), 2025 (MD&A, cost of revenues).
• 20.3%sec.gov ·2025 · TAC as a share of Google advertising revenues, 2025, as printed in the MD&A. TAC ÷ Google advertising revenues gives the same rate.
• 73.2%sec.gov ·2025 · Worked out: Google advertising revenues ÷ Alphabet's total revenues, 2025.
• 97.6%sec.gov ·2025 · Worked out: Meta's advertising revenue ÷ its total revenue, 2025 (MD&A).
• 9.6%sec.gov ·2025 · Worked out: Amazon's advertising services sales ÷ its total net sales, 2025.
• $54.9Bsec.gov ·2025 · Traffic acquisition costs, 2024 (MD&A).
• 20.7%sec.gov ·2025 · TAC as a share of Google advertising revenues, 2024 (MD&A).
• 6%sec.gov ·2025 · Change in paid clicks on Google Search & other, 2025 vs. 2024 (MD&A, monetization metrics).
• 7%sec.gov ·2025 · Change in cost per click on Google Search & other, 2025 vs. 2024 (MD&A, monetization metrics).
• 32%sec.gov ·2025 · Operating margin, 2025 (MD&A, executive overview).
• $3.5Bsec.gov ·2025 · European Commission fine accrued in the third quarter of 2025 (MD&A, general and administrative).
• $24.1Bsec.gov ·2025 · Net gains on equity securities included in other income, 2025 (MD&A).
• 36%sec.gov ·2025 · Growth in Google Cloud revenues, 2025 vs. 2024 (MD&A).
• $139.4Bsec.gov ·2025 · Google Services operating income, 2025 (MD&A, segment profitability).
• $13.9Bsec.gov ·2025 · Google Cloud operating income, 2025 (MD&A, segment profitability).
• $7.5Bsec.gov ·2025 · Other Bets operating loss, 2025 (MD&A, segment profitability).
• $26.4Bsec.gov ·2025 · Increase in Google Search & other revenues, 2025 vs. 2024 (MD&A).
• $91.4Bsec.gov ·2025 · Capital expenditures, mostly technical infrastructure, 2025 (MD&A, executive overview).
• $68.6Bsec.gov ·2025 · Amazon's advertising services sales, 2025 (Amazon's segment note).