For the first time ever, Google Search is less than 50% of Alphabet's revenue

Alphabet’s September 2026 quarter marked the first time Google Search generated less than half of the company’s revenue since Alphabet began reporting it separately. Search and other brought in $63.4 billion, or 49.7% of Alphabet’s $128 billion total, down 5.6 percentage points from a year earlier. Its revenue still grew 12%, so the falling share reflects faster growth elsewhere rather than a decline in Search. Across the previous 31 quarters, Search had consistently accounted for 52.8% to 62.0% of revenue.

The biggest shift is Google Cloud’s expansion: revenue reached $30.7 billion, up 103% year over year, and its share of Alphabet’s total climbed to 24.1%, from 4.4% in December 2018. Revenue outside Search totaled $64.2 billion and grew 40%. That category includes Cloud, YouTube advertising, subscriptions and devices, Google Network, and Other Bets; its rapid growth has changed the company’s revenue mix. Search remains Alphabet’s largest individual business, but the figures show increasing dependence on a broader set of operations, particularly Cloud. Search revenue includes ads on Google Search and other Google properties such as Gmail, Maps, and Google Play.