
Alphabet Q2 2026: Cloud Up 82%, Free Cash Flow Negative
Alphabet posted $119.8B in Q2 revenue and 82% cloud growth, yet free cash flow turned negative at -$5.86B — the first quarterly deficit since its 2004 listing.

Alphabet posted $119.8B in Q2 revenue and 82% cloud growth, yet free cash flow turned negative at -$5.86B — the first quarterly deficit since its 2004 listing.

GOOGL is Alphabet's Class A stock with one vote per share; GOOG is Class C with none. Returns are virtually identical — here is how the founders' 52.7% voting lock and the small price gap actually work.