Alphabet (Google): The Ad Machine Building a Second Engine in Cloud

Alphabet Inc. (Google) — An advertising-powered platform company whose core of Search, YouTube, Android, and Chrome earns most of its revenue, with Google Cloud growing into a second pillar.

In 2025 advertising was still about 73% of Alphabet’s $402.8B revenue and Google Services earned a ~41% operating margin, while Google Cloud grew 36% to $58.7B and earned $13.9B of operating income.