Google Search Drops Below 50% of Alphabet Revenue for First Time

Alphabet's 2026 third-quarter earnings show Google Search accounted for 49.7% of total revenue, marking the first time it fell below 50% in company history. Total revenue reached $128 billion, with Search generating $63.4 billion, still a record high. Google Cloud's growth from 5.0% in early 2019 to 24.1% this quarter was a major factor in the shift. Search's revenue share has declined steadily from 62% in 2019, while Cloud's $30.7 billion revenue also hit a record, reflecting broader strength across Alphabet's other divisions.