GOOG stock is down after earnings. See the chart and price action here.
A 33-Quarter Buyback Streak Ends
Alphabet bought no stock in Q1, breaking a 33-quarter run, and Q2 confirmed this was a strategic reset, not a temporary pause.
Repurchases remained at zero, compared with $13.24 billion in the same quarter last year. Across the first half, Alphabet repurchased nothing after spending $28.31 billion during the comparable 2025 period.
The buyback halt was not caused by an exhausted authorization. A sizable balance remained available when 2026 began, giving management ample room to continue repurchases. Instead, Alphabet redirected cash toward the escalating infrastructure demands of AI.
