Alphabet posted its second-quarter earnings after Wednesday's closing bell, beating on the headline numbers and giving a higher forecast for this year's capital expenditures. But some analysts say the debate over the future of Google's search empire is still unsettled.

Current consensus predictions for Google's forthcoming earnings report anticipate $2.18 per share on revenues of $93.73 billion. This suggests growth in comparison to the same quarter last year, which reported earnings of $1.89 per share with revenues of $84.74 billion.

Google stock fell after parent Alphabet reported Q2 earnings and revenue that topped estimates as investors mulled the size of the beat.

For the quarter, Google is expected to post adjusted earnings per share of $2.17 on revenue excluding traffic acquisition costs (TAC) of $79.6 billion, an 11.6% jump versus the same period last year when the company posted revenue of $71.3 billion, according to analyst consensus data from Bloomberg.

This week, I take a look at the surprisingly strong state of Google, Meta gets a new chief AI researcher, and more. If you haven’t already, be sure to check out this week’s Decoder episode about deepfakes and where they are headed.

Google delivered stronger than expected quarterly earnings yesterday, upending the narrative that AI rivals were impacting Search.

Google’s Q2 2025 earnings call will take place today at 1:30 p.m. PT/4:30 p.m. ET. It’ll be streamed on the Alphabet Investor Relations YouTube channel.

Google’s accelerating shift into artificial intelligence helped propel its corporate parent to another quarter of solid growth while a crackdown on its internet empire looms in the background.

Alphabet reported second-quarter results on Wednesday that beat on revenue and earnings, but the company said it would raise its capital investments by $10 billion in 2025. Shares of the company were up as much as 3% in after-hours trading. The company’s overall revenue grew 14% year over year, higher than the 10.9% Wall Street expected.

Google crushed earnings expectations — but investor reactions were mixed as the CEO highlighted surging AI usage and a $10 billion capex spike.