Google Stock Soars 26% Ahead of April 29 Earnings

TLDR

• Google stock rose over 26% this month and outperformed the S&P 500 ahead of its earnings report.
• Alphabet is set to report earnings on April 29, with Wall Street projecting adjusted earnings per share of $2.62.
• Analysts forecast quarterly revenue between $106 billion and $107 billion, marking an 18% to 20% year-over-year increase.
• Google Cloud revenue climbed 48% year over year to $17.7 billion in the fourth quarter of 2025.
• The company announced a 55% sequential increase in cloud backlog, reaching $240 billion.

(SeaPRwire) –   Alphabet shares (GOOGL) gained more than 26% this month and outperformed the S&P 500. This rally has positioned Google stock among the top market gainers ahead of the April 29 earnings report. Analysts are now focusing on cloud growth, Gemini adoption, and the company’s spending plans.

Alphabet Inc., GOOGL

Google Stock Rally Gains Pace Before Results

Google stock extended its monthly surge and outperformed the broader market index. This movement followed positive analyst revisions and steady demand across advertising and cloud services. Citi raised its price target to $405 from $390, citing user engagement with Gemini and cloud strength. Evercore ISI analyst Mark Mahaney set a $400 target and pointed to solid demand trends. He noted that the company demonstrates “continued strength in the cloud division” and stable enterprise orders.

Wall Street expects adjusted earnings per share of roughly $2.62 for the quarter. Analysts project revenue between $106 billion and $107 billion, up 18% to 20% year over year. The market is now waiting for confirmation that AI-linked services are driving revenue and backlog growth.

Google Cloud revenue rose 48% year over year in the fourth quarter of 2025. The unit generated $17.7 billion, compared with 34% growth in the prior quarter. CEO Sundar Pichai stated that the cloud backlog increased 55% sequentially to $240 billion. He explained that demand for in-house chips and Gemini 3 models supported enterprise adoption.

Spending Plans and Fundamentals Shape Outlook

Alphabet plans capital expenditures between $175 billion and $185 billion in 2026. This figure nearly doubles 2025 spending and is targeted at data centers and chip capacity. Management expects increased infrastructure investment to support cloud and product expansion.

Depreciation expenses rose 38% in 2025 to $21.1 billion. Rising costs may put pressure on operating margins even as revenue grows. The company aims to balance infrastructure expansion with profitability targets.

Alphabet ended 2025 with $127 billion in cash and cash equivalents. The company carried $46 billion in total debt during the same period. Advertising operations continued to generate free cash flow across its search and YouTube platforms.

YouTube subscriptions also contributed to recurring revenue growth during the year. The company integrates Gemini features across its products to boost engagement and enterprise usage. Shares trade at more than 30 times earnings ahead of the April 29 report.