Anat Ashkenazi on corporate finance
From Alphabet 2025 Q3 Earnings Call · · Alphabet Investor Relations
“We ended the quarter with $98.5 billion in cash and marketable securities, reflecting our strong financial position to invest in future growth and AI infrastructure.”
On , Anat Ashkenazi, Senior VP & CFO at Alphabet, spoke about corporate finance during Alphabet 2025 Q3 Earnings Call on Alphabet Investor Relations.
About Anat Ashkenazi
Anat Ashkenazi, Senior Vice President and Chief Financial Officer of Alphabet and Google, discussed the company's financial results and strategy during the third quarter 2025 earnings call on November 4, 2025. She reported that Alphabet delivered its first-ever $100 billion quarter, with operating income of $31.2 billion and an operating margin of 30.5%. Ashkenazi noted that the company's Cloud backlog grew 46% quarter-over-quarter to $155 billion, driven by demand for enterprise AI, and that more billion-dollar deals were signed in the first nine months of 2025 than in the prior two years combined. She stated that Alphabet expects capital expenditures to be in the range of $91 billion to $93 billion for 2025, up from a previous estimate of $85 billion, and that a significant increase in CapEx is expected in 2026. During the second quarter 2025 earnings call on July 30, 2025, Ashkenazi described Q2 as a "standout quarter" with robust growth across the company. She stated that Cloud had reached an annual revenue run rate of more than $50 billion and that Search delivered double-digit revenue growth. Ashkenazi attributed the company's momentum to its full-stack approach to AI, including investments in infrastructure, research, models, and platforms, and said that AI is positively impacting every part of the business.