| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 22, 2026 | 4/12 | 4 high, 3 medium, 1 low flags | 3 | 1 | Call sheet → |
| Q1'26 | April 29, 2026 | 7/12 | 1 high, 3 medium, 2 low flags | 5 | 1 | Call sheet → |
| Q4'25 | February 4, 2026 | 9/12 | 2 high, 4 medium flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Focus on frontier model development Started Gemini 4 training but gave zero specifics on timeline or capabilities |
| Q2'26 | Delivered | AI Mode global expansion would drive search growth Hit 1B MAUs but stopped reporting the growth metrics |
| Q2'26 | Missed | 2026 CapEx of $175-185B Already raised to $195-205B citing 'acceleration in delivery of capacity' |
| Q2'26 | Exceeded | Maintain strong operating margin expansion in Cloud Hit 35.6% vs 32.9% in Q1, but admitted Q3 will see pressure |
| Q2'26 | Pending | Gemini Enterprise would be primary growth driver Claimed it's driving growth but switched metrics from MAU growth to penetration |
| Q2'26 | Delivered | Begin delivering TPU hardware to customers in Q2 Started in Q2 as promised but revenue impact is minimal |
| Q1'26 | Exceeded | Waymo expansion continues Nashville launch, 6 new cities in 2026, 500K rides/week |
| Q1'26 | Delivered | YouTube subscription growth momentum Strongest quarter ever for consumer AI plans |
| Q1'26 | Delivered | Expand Gemini Enterprise capabilities New agent platform, canvas features, long-running agents |
| Q1'26 | Delivered | Continue AI monetization experiments in search Testing ads below AI response, direct offers pilot launched |
| Q1'26 | Exceeded | Strong cloud growth despite supply constraints 63% growth vs 48% prior quarter |
| Q1'26 | Missed | CapEx $175-185B for 2026 Updated to $180-190B - $5B increase at midpoint |
| Q4'25 | Delivered | Continue hiring in key investment areas R&D compensation up 42% including AI talent investments |
| Q4'25 | Pending | Depreciation growth rate to accelerate slightly in Q4 Q4 depreciation not disclosed, but 2026 acceleration confirmed |
| Q4'25 | Exceeded | Supply constrained environment through 2026 Now expects full-year 2026 constraints, worse than indicated |
| Q4'25 | Delivered | Gemini 3 release later in 2025 Launched in December as promised |
| Q4'25 | Exceeded | Cloud backlog to grow significantly driven by enterprise AI 55% sequential growth to $240B vs modest expectations |
| Q4'25 | Delivered | Expect CapEx to be in the range of $91 billion to $93 billion in 2025 Hit $91.4B, within guidance range |
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